Financing for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $225,000 was given to a Delaware entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wilmington, Delaware was able to borrow $225,000 from Wilmington Trust Company. The SBA made the loan possible by guaranteeing $149,175 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
WILMINGTON, DE 19801

SBA Loan Lender

WILMINGTON TRUST COMPANY
1100 N MARKET ST, RODNEY SQ N
WILMINGTON, DE 19890

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

9/20/2002

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $149,175.

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 61 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilmington Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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