How to Get a Loan for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 limited-service restaurants loan was issued by a Massachusetts bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Riverbank, out of North Andover, Massachusetts. The loan was granted and they received $150,000 to help grow their West Newbury, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
WEST NEWBURY, MA 01985

SBA Loan Lender

RIVERBANK
30 MASSACHUSETTS AVE
NORTH ANDOVER, MA 01845

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/24/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in West Newbury MA, you ought to talk with a local West Newbury SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Newbury businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in North Andover, Massachusetts

Massachusetts SBA 7A Lenders