Limited-Service Restaurants Bank Loans
With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $135,000 was given to a Pennsylvania entrepreneur in 2005.
Getting a small business loan in Donegal, Pennsylvania was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Donegal, PA 15628
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
722211 - Limited-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $135,000 loan amount, the SBA guaranteed $67,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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