Borrow Money to Buy a Bid Ed's Bbq Franchise

Need money to purchase a Bid Ed's Bbq franchise? Bnb Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Dayton, New Jersey needed money to invest in a Bid Ed's Bbq franchise back in 2003. Bnb Bank, National Association issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

BIG ED'S BBQ OF DAYTON
DAYTON, NJ 08810

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

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

722110 - Full-Service Restaurants

Loan Approval Date

7/14/2003

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bid Ed's Bbq franchise. At the time of the loan, the company had 29 employees. The loan application indicated that the loan would help generate 29 new jobs and retain 29 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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