Full-Service Restaurants Business Loans
With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $50,000 was given to a New York entrepreneur in 2004.
This small business knew how to go about getting a business bank loan. Based in White Plains, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Flushing Savings Bank, Fsb, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
WHITE PLAINS, NY 10606
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
8/4/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.
Next Steps for Getting an SBA Loan
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.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Flushing Savings Bank, Fsb so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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 - Getting Venture Capital
SBA 7A Banks in New York City, New York
Getting a Business Loan in New York