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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Windsor, Business Loans > The Bank Windsor Business Loans > Eating Places Loan | ||||
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The Bank Small Business Loan
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How to Get a Loan for Limited-Service RestaurantsWith these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $500,000 was given to a New Jersey entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in Cherry Hill, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Bank, based in Windsor, New Jersey. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE BANK When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/26/2005 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 15 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, you control your own destiny. 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: Raising VC Money for Social Networking Companies Small Business Banks in Windsor, New Jersey
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