Financing for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $400,000 was given to a Massachusetts entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Enterprise Bank & Trust, out of Lowell, Massachusetts. The loan was granted and they received $400,000 to help grow their Woburn, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
WOBURN, MA 01801

SBA Loan Lender

ENTERPRISE BANK & TRUST
222 MERRIMACK ST
LOWELL, MA 01852

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/30/2005

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 15 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Woburn MA, you ought to talk with a local Woburn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Woburn 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 $400,000 loan. Remember, anyone can do it... so why not 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:

How to Raise Money

Small Bank Loans in Lowell, Massachusetts

Getting an SBA Loan in Massachusetts