Financing for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $90,000 was given to a Massachusetts entrepreneur in 2000.

Getting a small business loan in Worcester, Massachusetts was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Flagship Bank & Trust, operating out of Worcester, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WORCESTER, MA 01604

SBA Loan Lender

FLAGSHIP BANK & TRUST
120 FRONT ST
WORCESTER, MA 01608

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

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 7 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Worcester MA, you ought to talk with a local Worcester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Worcester businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Flagship Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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