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May 17, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bethesda, Business Loans > Eaglebank Bethesda Business Loans > Eating Places Loan | ||||
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Arlington, Virginia Bank Loan
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Financing for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $600,000 full-service restaurants loan was issued by a Maryland bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Eaglebank, out of Bethesda, Maryland. The loan was granted and they received $600,000 to help grow their Arlington, Virginia business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender EAGLEBANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program. 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 4/28/2005 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $600,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Banks in Bethesda, Maryland Find an SBA Lender in Maryland
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