SBA Loan from Bnb Bank, National Association Helps Full-Service Restaurants Company

An SBA loan from Bnb Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Asbury Park, New Jersey business owner got a $225,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Asbury Park, New Jersey, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bnb Bank, National Association, based in Fort Lee, New Jersey.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ASBURY PARK, NJ 07065

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

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

4/13/2005

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 43 employees. The SBA loan application for the borrower indicated that the loan would help generate 43 new jobs and retain 43 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bnb Bank, National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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