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May 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Eating Places Loan | ||||
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Raising Money in Wellesley Island, New York With SBA Loans
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Financing for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? The SBA may be the answer. This $1,030,000 full-service restaurants loan was issued by a Texas bank. This business knew how to go about getting a business bank loan. Based in Wellesley Island, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Small Business Loan Source LLC, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/28/2005 Loan Approval Gross Amount $1,030,000 Loan Approval from the SBA Of the total $1,030,000 loan amount, the SBA guaranteed $772,500. 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 22 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Small Business Loan Source LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in Houston, Texas Where to Get an SBA Loan Texas
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