Raising Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? The SBA may be the answer. This $256,550 limited-service restaurants loan was issued by a District of Columbia bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with The Adams National Bank, out of Washington, District of Columbia. The loan was granted and they received $256,550 to help grow their Largo, Maryland business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LARGO, MD 20774

SBA Loan Lender

THE ADAMS NATIONAL BANK
1130 CONNECTICUT AVE NW, STE
WASHINGTON, DC 20006

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/12/2003

Loan Approval Gross Amount

$256,550

Loan Approval from the SBA

Of the total $256,550 loan amount, the SBA guaranteed $192,412.

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 3 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Largo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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