Bank Loans for Full-Service Restaurants
With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $140,000 was given to a Pennsylvania entrepreneur in 2002.
Getting a small business loan in Ligonier, Pennsylvania was important for this company back in 2002 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: EATING PLACES
LIGONIER, PA 15658
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
5812 - Eating Places
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $119,000.
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 42 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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