Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? The SBA may be the answer. This $148,000 full-service restaurants loan was issued by a Pennsylvania bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Commerce Bank, out of Devon, Pennsylvania. The loan was granted and they received $148,000 to help grow their West Chester, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WEST CHESTER, PA 19380

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

6/13/2002

Loan Approval Gross Amount

$148,000

Loan Approval from the SBA

Of the total $148,000 loan amount, the SBA guaranteed $92,458.

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 23 employees. The SBA loan documents indicated that the loan would help retain 23 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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