Small Business Loans for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $67,000 was given to a Massachusetts entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Hometown Bank A Co-Operative B, out of Oxford, Massachusetts. The loan was granted and they received $67,000 to help grow their Webster, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WEBSTER, MA 01570

SBA Loan Lender

HOMETOWN BANK A CO-OPERATIVE B
31 SUTTON AVE
OXFORD, MA 01540

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$67,000

Loan Approval from the SBA

Of the total $67,000 loan amount, the SBA guaranteed $56,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Webster MA, you ought to talk with a local Webster SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Webster businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $67,000 loan. Remember, you control your own destiny.

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:

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Where to Get an SBA Loan in Oxford, Massachusetts

SBA Massachusetts Lenders