Where to Get Capital for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $307,256 was given to a Maryland entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Cockeysville, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Susquehanna Bank Pa, based in Owings Mills, Maryland.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
COCKEYSVILLE, MD 21030

SBA Loan Lender

SUSQUEHANNA BANK PA
10455 MILL RUN CIR
OWINGS MILLS, MD 21117

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

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

1/5/2005

Loan Approval Gross Amount

$307,256

Loan Approval from the SBA

Of the total $307,256 loan amount, the SBA guaranteed $230,442.

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 20 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Susquehanna Bank Pa are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Owings Mills, Maryland

Maryland SBA 7A Banks