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May 12, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Full-Service Restaurants Loan | ||||
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Business Loans for Johnston Entrepreneurs
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Getting an SBA Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? The SBA may be the answer. This $23,000 full-service restaurants loan was issued by a Pennsylvania bank. This business knew how to go about getting a business bank loan. Based in Johnston, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Sovereign Bank, based in Villanova, Pennsylvania. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SOVEREIGN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/22/2007 Loan Approval Gross Amount $23,000 Loan Approval from the SBA Of the total $23,000 loan amount, the SBA guaranteed $11,500. 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. The loan application indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in Villanova, Pennsylvania
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