Get an SBA Loan for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $370,000 full-service restaurants loan was issued by a Maryland bank.

Getting a small business loan in Washington, District of Columbia was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Eaglebank, operating out of Bethesda, Maryland. Here are the details on this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WASHINGTON, DC 20008

SBA Loan Lender

EAGLEBANK
7815 WOODMONT AVE
BETHESDA, MD 20814

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

7/31/2002

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

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 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Eaglebank 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.

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Get an SBA Loan for Full-Service Restaurants