Limited-Service Restaurants Business Loans

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $491,000 was given to a Maryland entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Hagerstown, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Susquehanna Bank Pa, based in Millersburg, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HAGERSTOWN, MD 21740

SBA Loan Lender

SUSQUEHANNA BANK PA
150 MARKET SQ
MILLERSBURG, PA 17061

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/10/2007

Loan Approval Gross Amount

$491,000

Loan Approval from the SBA

Of the total $491,000 loan amount, the SBA guaranteed $368,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $491,000 loan. Remember, if it to be, it is up to me!

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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