Wilmington, Delaware Lender Lends Money to Limited-Service Restaurants Company

Want to talk with a Wilmington, Delaware bank about a small business loan? Here's one Delaware business loan, issued by a Wilmington bank, that was approved by the SBA.

Applying for an SBA loan with Wilmington Savings Fund Societ worked out well for our friends at one local business in Newark, Delaware. The business was able to get an SBA loan for $50,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEWARK, DE 19702

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 40 employees. The loan application indicated that the funding would help generate 15 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Newark DE, you ought to talk with a local Newark SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newark businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilmington Savings Fund Societ and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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