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May 7, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Ardmore, Business Loans > Star Business & Indust Devel Ardmore Business Loans > Eating Places Loan | ||||
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Philadelphia, Pennsylvania Bank Loan
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How to Get a Loan for Limited-Service RestaurantsLooking for SBA loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $425,000 limited-service restaurants loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $425,000 from Star Business & Indust Devel. The SBA made the loan possible by guaranteeing $318,750 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STAR BUSINESS & INDUST DEVEL This SBA bank 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 722211 - Limited-Service Restaurants Loan Approval Date 9/24/2004 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. 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 5 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Ardmore, Pennsylvania
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