Getting an SBA Loan for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $72,800 was given to a Pennsylvania entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Carlisle, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Commerce Bank/harrisburg Natl, based in Lemoyne, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Carlisle, PA 17013

SBA Loan Lender

COMMERCE BANK/HARRISBURG NATL
1249 MARKET ST
LEMOYNE, PA 17043

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

9/5/2007

Loan Approval Gross Amount

$72,800

Loan Approval from the SBA

Of the total $72,800 loan amount, the SBA guaranteed $61,880.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no 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.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank/harrisburg Natl had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank/harrisburg Natl made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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SBA Approved Banks in Lemoyne, Pennsylvania

Pennsylvania SBA 7A Lenders