Borrowing Money for Limited-Service Restaurants

Looking for loans for limited-service restaurants? The SBA may be the answer. This $107,820 limited-service restaurants loan was issued by a Maryland bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Perry Hall, Maryland was able to borrow $107,820 from Susquehanna Bank Pa. The SBA made the loan possible by guaranteeing $91,647 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PERRY HALL, MD 21206

SBA Loan Lender

SUSQUEHANNA BANK PA
10455 MILL RUN CIR
OWINGS MILLS, MD 21117

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/27/2001

Loan Approval Gross Amount

$107,820

Loan Approval from the SBA

Of the total $107,820 loan amount, the SBA guaranteed $91,647.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Susquehanna Bank Pa and they will explain how you can get an SBA loan for your company.

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:

Direct Public Offerings

Small Business Banks in Owings Mills, Maryland

Maryland SBA 7A Lenders