Where to Get Capital for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? Try the SBA. This $137,500 full-service restaurants loan was issued by a Delaware bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $137,500 from Wilmington Savings Fund Societ. The SBA made the loan possible by guaranteeing $103,125 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PHILADELPHIA, PA 19106

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

722110 - Full-Service Restaurants

Loan Approval Date

11/9/2006

Loan Approval Gross Amount

$137,500

Loan Approval from the SBA

Of the total $137,500 loan amount, the SBA guaranteed $103,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the loan would help generate 25 new jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilmington Savings Fund Societ that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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SBA Approved Banks in Wilmington, Delaware

Where to Get an SBA Loan Delaware