Where to Get Capital for Full-Service Restaurants
With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $325,000 was given to a New Jersey entrepreneur in 2000.
This company knew how to go about getting a business bank loan. Based in Ocean Gate, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
OCEAN GATE, NJ 08740
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
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.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
1/19/2000
Loan Approval Gross Amount
$325,000
Loan Approval from the SBA
Of the total $325,000 loan amount, the SBA guaranteed $243,750.
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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wachovia Sba Lending, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Advice on Getting a Small Business Loan
Small Bank Loans in Roseville, California
Getting a Business Loan in California