Getting an SBA Loan for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $60,000 was given to a New Jersey entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Browns Mills, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Sun National Bank, based in Vineland, New Jersey.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BROWNS MILLS, NJ 08015

SBA Loan Lender

SUN NATIONAL BANK
226 LANDIS AVE
VINELAND, NJ 08360

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/29/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 10 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Browns Mills or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Vineland, New Jersey

New Jersey SBA Bank Lenders