SBA Loans 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 $180,000 was given to a Maryland entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Edgewater, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Anne Arundel Economic Develop., based in Annapolis, Maryland.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
EDGEWATER, MD 21037

SBA Loan Lender

ANNE ARUNDEL ECONOMIC DEVELOP.
2660 RIVA RD, STE 200
ANNAPOLIS, MD 21401

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/15/2006

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Anne Arundel Economic Develop. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Anne Arundel Economic Develop. 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:

Business Incubators

Good Banks for Small Business in Annapolis, Maryland

Maryland SBA 7A Lenders