Small Business Loans for Full-Service Restaurants

Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $1,508,000 full-service restaurants loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chesapeake Beach, Maryland was able to borrow $1,508,000 from Newtek Small Business Finance Inc.. The SBA made the loan possible by guaranteeing $1,131,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHESAPEAKE BEACH, MD 20732

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/23/2005

Loan Approval Gross Amount

$1,508,000

Loan Approval from the SBA

Of the total $1,508,000 loan amount, the SBA guaranteed $1,131,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 18 new jobs and retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Chesapeake Beach 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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