Get an SBA Loan for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $74,000 was given to a Maryland entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Essex, Maryland was able to borrow $74,000 from Chesapeake Bank Of Maryland. The SBA made the loan possible by guaranteeing $62,900 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ESSEX, MD 21221

SBA Loan Lender

CHESAPEAKE BANK OF MARYLAND
2001 E JOPPA RD
BALTIMORE, MD 21234

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

11/21/2003

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $62,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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