Where to Get Capital for Limited-Service Restaurants
Looking for SBA loans for limited-service restaurants? The SBA may be the answer. This $320,000 limited-service restaurants loan was issued by a New York bank.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Sovereign Bank, out of New York City, New York. The loan was granted and they received $320,000 to help grow their Newton, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEWTON, NJ 07860
SBA Loan Lender
SOVEREIGN BANK
195 MONTAGUE ST
NEW YORK CITY, NY 11201
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
722211 - Limited-Service Restaurants
Loan Approval Date
12/10/2003
Loan Approval Gross Amount
$320,000
Loan Approval from the SBA
Of the total $320,000 loan amount, the SBA guaranteed $240,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company.
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:
Borrowing Money from Friends and Family
Small Bank Loans in New York City, New York
Getting an SBA Loan in New York