Full-Service Restaurants Bank Loans
With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $25,000 was given to a New Jersey entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cinnaminson, New Jersey was able to borrow $25,000 from Bank Of America. The SBA made the loan possible by guaranteeing $12,500 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
CINNAMINSON, NJ 08077
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
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
8/9/2002
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 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
This SBA loan was for $25,000. How would you spend $25,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
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Rhode Island SBA 7A Lenders