Reduced Fees Help Buffalo Restaurateurs

BUFFALO, N.Y. – Two loans made by Five Star Bank, one of SBA’s top Buffalo lenders, were approved for use in expanding and remodeling for additional seating at Betty’s Restaurant on Virginia Street.

Betty’s opened in October of 2004 with the help of two SBA loans, one to purchase the building, the other to fund the build out of the restaurant, furniture, fixtures and equipment.  There are now two new 7(a) loans which Betty’s received as a result of the Recovery Act. One is for leasehold improvements for an expansion project. The second loan of $64,000 is for furniture, fixtures and equipment. The Recovery Act saved owners Carroll Simon and Doris Hall over $7,000 in fees to reinvest in their business.

“We are grateful and honored that the SBA sees strength in our expansion plan to the extent that it has agreed once again to loan us the necessary funds to make our dream come true. Betty’s would absolutely not have been possible without the vision and commitment of the SBA.” said Carroll Simon.