Limited-Service Restaurants Commercial Loans
Looking for commercial loans for limited-service restaurants? Talk to a banker who works with the SBA. This $124,000 limited-service restaurants loan was issued by a New Jersey bank.
This small business knew how to go about getting a business bank loan. Based in North Ridgeville, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NORTH RIDGEVILLE, OH 44039
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
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
8/7/2001
Loan Approval Gross Amount
$124,000
Loan Approval from the SBA
Of the total $124,000 loan amount, the SBA guaranteed $105,400.
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 4 employees. This SBA loan request indicated that the borrowed money would help create 4 new jobs.
Next Steps for Getting an SBA Loan
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.
We can help you find the best banks for small businesses in North Ridgeville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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 Business Banks in Livingston, New Jersey
New Jersey SBA 7A Banks