Financing for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,500,000 was given to a District of Columbia entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, District of Columbia was able to borrow $1,500,000 from The Adams National Bank. The SBA made the loan possible by guaranteeing $1,125,000 of this District of Columbia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WASHINGTON, DC 20036

SBA Loan Lender

THE ADAMS NATIONAL BANK
1130 CONNECTICUT AVE NW, STE
WASHINGTON, DC 20006

This loan for a small business 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

9/14/2004

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 60 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Adams National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

SBA 7A Lenders in Washington, District of Columbia

District of Columbia SBA 7A Banks