Where to Get Capital for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $700,000 full-service restaurants loan was issued by a Pennsylvania bank.

This small business knew how to go about getting a business bank loan. Based in New Brunswick, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
New Brunswick, NJ 08901

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

722110 - Full-Service Restaurants

Loan Approval Date

1/2/2007

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in New Brunswick NJ, you ought to talk with a local New Brunswick SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Brunswick businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $700,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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