Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? Try the SBA. This $85,000 full-service restaurants loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Waterloo, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Five Star Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: GENERAL LIVESTOCK
WATERLOO, NY 13165

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0219 - General Livestock

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/25/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Equity Financing

Good Banks for Small Business in Geneva, New York

Getting an SBA Loan in New York