Business Loans for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $222,500 was given to a Maryland entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in California, Maryland was able to borrow $222,500 from Commercefirst Bank. The SBA made the loan possible by guaranteeing $166,875 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CALIFORNIA, MD 20619

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

3/26/2002

Loan Approval Gross Amount

$222,500

Loan Approval from the SBA

Of the total $222,500 loan amount, the SBA guaranteed $166,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Commercefirst Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Family and Friend Investors - Your First Financiers

Small Bank Loans in Annapolis, Maryland

Maryland SBA 7A Lenders