Commercial Loans for Full-Service Restaurants
Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $421,000 full-service restaurants loan was issued by a New Jersey bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abingdon, Virginia was able to borrow $421,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $315,750 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
ABINGDON, VA 24210
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
9/18/2001
Loan Approval Gross Amount
$421,000
Loan Approval from the SBA
Of the total $421,000 loan amount, the SBA guaranteed $315,750.
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 29 employees. The SBA loan application for the borrower indicated that the loan would help retain 29 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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 $421,000 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:
Obtaining Funding - How to Decide How Much to Raise
SBA 7A Banks in Livingston, New Jersey
New Jersey SBA 7A Lenders