Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 full-service restaurants loan was issued by a Delaware bank.

Getting a small business loan in Rehoboth Beach, Delaware was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Wilmington Savings Fund Societ, operating out of Wilmington, Delaware. Here are the details on this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
REHOBOTH BEACH, DE 19971

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/29/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you have been wondering how do i get money to start a business in Rehoboth Beach DE, you ought to talk with a local Rehoboth Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rehoboth Beach businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilmington Savings Fund Societ had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilmington Savings Fund Societ made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Family and Friend Investors - Your First Financiers

Best Banks in Wilmington, Delaware

SBA Lenders in Delaware