New Jersey SBA Loan Issued to Limited-Service Restaurants Company

Would a New Jersey business loan help your company expand? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs.

Getting a small business loan in Jersey City, New Jersey was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from New Millennium Bank. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
JERSEY CITY, NJ 07302

SBA Loan Lender

NEW MILLENNIUM BANK
57 LIVINGSTON AVE
NEW BRUNSWICK, NJ 08901

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/16/2007

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 documents indicated that the loan would help generate 13 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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