New Jersey SBA Loan Issued to Limited-Service Restaurants Company

Searching for a New Jersey small business loan? This New Jersey entrepreneur got a small business loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.

This business, based in Aberdeen, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Pnc Bank, National Association. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Aberdeen, NJ 07747

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
8800 TINICUM BLVD, 1ST FL, MA
PHILADELPHIA, PA 19153

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/17/2007

Loan Approval Gross Amount

$416,100

Loan Approval from the SBA

Of the total $416,100 loan amount, the SBA guaranteed $312,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 14 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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