Getting an SBA Loan for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,275,500 was given to a Maryland entrepreneur in 2007.

Getting a small business loan in Severna Park, Maryland was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Philadelphia, Pennsylvania. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SEVERNA PARK, MD 21146

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

5/1/2007

Loan Approval Gross Amount

$1,275,500

Loan Approval from the SBA

Of the total $1,275,500 loan amount, the SBA guaranteed $867,340.

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 4 employees. The SBA loan documents indicated that the loan would help generate 16 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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