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 $42,748 was given to a Virginia entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charlottesville, Virginia was able to borrow $42,748 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $36,335 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CHARLOTTESVILLE, VA 22902

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

9/3/2003

Loan Approval Gross Amount

$42,748

Loan Approval from the SBA

Of the total $42,748 loan amount, the SBA guaranteed $36,335.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Charlottesville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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