Get an SBA Loan for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $900,000 was given to a Pennsylvania entrepreneur in 2006.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Preferred Capital Bidco, Inc., out of Wilmington, Delaware. The loan was granted and they received $900,000 to help grow their Philadelphia, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PHILADELPHIA, PA 19107

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

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

722110 - Full-Service Restaurants

Loan Approval Date

9/28/2006

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 3 employees. The loan application indicated that the loan would help generate 32 new jobs and retain 32 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Preferred Capital Bidco, Inc. 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.

Related Links:

Financing Your Business

Best Banks in Wilmington, Delaware

SBA Lenders in Delaware