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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Flushing Savings Bank, Fsb New York City Business Loans > Eating Places Loan | ||||
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Edison, New Jersey Bank for SBA Loans
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Financing for Limited-Service RestaurantsLooking for commercial loans for limited-service restaurants? Try the SBA. This $550,000 limited-service restaurants loan was issued by a New York bank. This business knew how to go about getting a business bank loan. Based in Edison, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Flushing Savings Bank, Fsb, based in New York City, New York. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FLUSHING SAVINGS BANK, FSB The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. 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 3/12/2001 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. Related Links: Raising VC Money for Social Networking Companies Where to Get an SBA Loan in New York City, New York
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