Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? The SBA may be the answer. This $365,000 full-service restaurants loan was issued by a Pennsylvania bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Flemington, New Jersey was able to borrow $365,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $273,750 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FLEMINGTON, NJ 08822

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/30/2001

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 16 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Flemington NJ, you ought to talk with a local Flemington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Flemington businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Who Lends Money to Small Businesses in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania