Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $1,300,000 full-service restaurants loan was issued by a New York bank.

This small business knew how to go about getting a business bank loan. Based in Palisades Park, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Newbank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PALISADES PARK, NJ 07650

SBA Loan Lender

NEWBANK
146-01 NORTHERN BLVD
NEW YORK CITY, NY 11354

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

722110 - Full-Service Restaurants

Loan Approval Date

3/19/2007

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help create 4 new jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Newbank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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