Limited-Service Restaurants Bank Loans

Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $91,200 limited-service restaurants loan was issued by a Rhode Island bank.

This company knew how to go about getting a business bank loan. Based in East Providence, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Coastway Cu, based in Cranston, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
EAST PROVIDENCE, RI 02914

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/3/2006

Loan Approval Gross Amount

$91,200

Loan Approval from the SBA

Of the total $91,200 loan amount, the SBA guaranteed $77,520.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Microlending as a Small Business Funding Source

Banks in Cranston, Rhode Island

SBA Lenders in Rhode Island