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December 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Fairfax, Business Loans > United Bank Fairfax Business Loans > Eating Places Loan | ||||
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Bethesda, Maryland Bank Loan
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Raising Money for Limited-Service RestaurantsLooking for business loans for limited-service restaurants? Try the SBA. This $250,000 limited-service restaurants loan was issued by a Virginia bank. This small business knew how to go about getting a business bank loan. Based in Bethesda, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was United Bank, based in Fairfax, Virginia. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITED BANK This SBA small business 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 722211 - Limited-Service Restaurants Loan Approval Date 6/11/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Bank and they will explain how you can get an SBA loan for your company. 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 7A Banks in Fairfax, Virginia SBA Participating Banks in Virginia
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