Valley National Bank Provides SBA Loan to Buy Nathan's Famous Franchise

Need a loan to purchase a Nathan's Famous franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Nathan's Famous franchise? If so, here's a 2005 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in Livingston, New Jersey.

SBA Loan Borrower

NATHAN'S
LIVINGSTON, NJ 07039

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$379,600

Loan Approval from the SBA

Of the total $379,600 loan amount, the SBA guaranteed $284,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Nathan's Famous franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $379,600 loan. Remember, feel the fear, and do it anyway.

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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