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December 22, 2024 |
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| Home > Small Business Lenders by State > Delaware Business Loan Sources > Wilmington, Business Loans > Wilmington Trust Company Wilmington Business Loans > Full-Service Restaurants Loan | ||||
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New Castle, Delaware Bank Loan
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Full-Service Restaurants LoansWith these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $140,000 was given to a Delaware entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Castle, Delaware was able to borrow $140,000 from Wilmington Trust Company. The SBA made the loan possible by guaranteeing $119,000 of this Delaware small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WILMINGTON TRUST COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/13/2005 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. 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 22 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Wilmington, Delaware Browse All Business Loan Sources for Delaware
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