Where to Get Capital for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $10,000 was given to a New Jersey entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Ocean Grove, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Toms River, New Jersey.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
OCEAN GROVE, NJ 07712

SBA Loan Lender

COMMERCE BANK
1101 HOOPER AVE
TOMS RIVER, NJ 08753

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/17/2001

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Obtaining Funding - How to Decide How Much to Raise

Banks in Toms River, New Jersey

SBA Lenders in New Jersey