Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? Talk to a banker who works with the SBA. This $25,000 full-service restaurants loan was issued by a New York bank.

This small business knew how to go about getting a business bank loan. Based in Burlington, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Progressive Cu, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BURLINGTON, NJ 08016

SBA Loan Lender

PROGRESSIVE CU
370 7TH AVE, STE 1400
NEW YORK CITY, NY 10001

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

4/12/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 40 employees. The SBA loan application for the borrower indicated that the loan would help retain 40 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Burlington NJ, you ought to talk with a local Burlington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burlington businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Progressive Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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