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April 28, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Limited-Service Restaurants Loan | ||||
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Who Can Get a Business Loan in Hampstead, Maryland?
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Getting an SBA Loan for Limited-Service RestaurantsLooking for SBA loans for limited-service restaurants? The SBA may be the answer. This $150,000 limited-service restaurants loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hampstead, Maryland was able to borrow $150,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $75,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/5/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Suntrust Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Richmond, Virginia Browse All Business Loan Sources for Virginia
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