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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Saddle Brook, Business Loans > Td Banknorth Saddle Brook Business Loans > Eating Places Loan | ||||
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How to Get SBA Loans in Hillsdale, New Jersey
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SBA Loans for Full-Service RestaurantsWith these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $200,000 was given to a New Jersey entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Hillsdale, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Td Banknorth, based in Saddle Brook, New Jersey. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TD BANKNORTH The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business 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 722110 - Full-Service Restaurants Loan Approval Date 5/21/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Participating Banks in Saddle Brook, New Jersey
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