Get an SBA Loan for Full-Service Restaurants
Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $225,000 full-service restaurants loan was issued by a Massachusetts bank.
This company knew how to go about getting a business bank loan. Based in Essex, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Beverly Co-Operative Bank, based in Beverly, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
ESSEX, MA 01929
SBA Loan Lender
BEVERLY CO-OPERATIVE BANK
254 CABOT ST
BEVERLY, MA 01915
This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $168,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 35 employees. The SBA loan application for the borrower indicated that the loan would help retain 35 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.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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