Borrowing Money for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Try the SBA. This $373,000 full-service restaurants loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Wayne, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Commerce Bank, based in Devon, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WAYNE, PA 19087

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

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

7/10/2003

Loan Approval Gross Amount

$373,000

Loan Approval from the SBA

Of the total $373,000 loan amount, the SBA guaranteed $279,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents indicated that the loan would help retain 50 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commerce Bank and they will explain how you can get an SBA loan for your company.

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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