Washington, DC Entrepreneur Gets SBA Loan to Buy Chesapeake Bagel Bakery Franchise

Borrowing money to invest in a Chesapeake Bagel Bakery franchise? City 1st Bank - D.C. has a history of making these loans and they are guaranteed by the SBA.

Chesapeake Bagel Bakery franchise loans are available to Washington, District of Columbia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, City 1st Bank - D.C., based in Washington, District of Columbia, issued an SBA franchise loan for a Chesapeake Bagel Bakery franchise in 2000. We've got all the details on this District of Columbia small business loan.

SBA Loan Borrower

CHESAPEAKE BAGEL BAKERY
WASHINGTON, DC 20019

SBA Loan Lender

CITY 1ST BANK - D.C.
1432 U ST NW
WASHINGTON, DC 20009

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA 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

8/2/2000

Loan Approval Gross Amount

$470,000

Loan Approval from the SBA

Of the total $470,000 loan amount, the SBA guaranteed $352,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chesapeake Bagel Bakery franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like City 1st Bank - D.C. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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