The Bank SBA Loan to Full-Service Restaurants Company

The Bank has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

Getting a small business loan in Elkins Park, Pennsylvania was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Bank, operating out of Woodbury, New Jersey. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ELKINS PARK, PA 19027

SBA Loan Lender

THE BANK
100 PARK AVE
WOODBURY, NJ 08096

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/19/2005

Loan Approval Gross Amount

$903,400

Loan Approval from the SBA

Of the total $903,400 loan amount, the SBA guaranteed $677,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $903,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Credit Evaluation

Who Lends Money to Small Businesses in Woodbury, New Jersey

New Jersey SBA 7A Lenders