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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Full-Service Restaurants Loan | ||||
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How Do We Get a Business Loan in Hamilton Township, New Jersey?
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Getting an SBA Loan for Full-Service RestaurantsWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $335,000 was given to a New Jersey entrepreneur in 2001. This business knew how to go about getting a business bank loan. Based in Hamilton Township, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Of America, based in Blue Bell, Pennsylvania. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANK OF AMERICA 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 SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/18/2001 Loan Approval Gross Amount $335,000 Loan Approval from the SBA Of the total $335,000 loan amount, the SBA guaranteed $251,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists Small Business Banks in Blue Bell, Pennsylvania
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