Business Loan from Susquehanna Bank Given to Eating Places Company

Susquehanna Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Pasadena, Maryland was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Susquehanna Bank, operating out of Baltimore, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PASADENA, MD 21122

SBA Loan Lender

SUSQUEHANNA BANK
100 WEST RD
BALTIMORE, MD 21204

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/26/2001

Loan Approval Gross Amount

$99,500

Loan Approval from the SBA

Of the total $99,500 loan amount, the SBA guaranteed $84,575.

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 9 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 $99,500. How would you spend $99,500 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.

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