Commercial Loans for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $630,000 was given to a New Jersey entrepreneur in 2006.

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

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Brick, NJ 08723

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/21/2006

Loan Approval Gross Amount

$630,000

Loan Approval from the SBA

Of the total $630,000 loan amount, the SBA guaranteed $472,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help create 4 new jobs.

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

If you need money to start business in Brick NJ, you ought to talk with a local Brick SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brick businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 - Getting Venture Capital

Find an SBA Lender in Clinton, New Jersey

SBA Participating Banks in New Jersey