Innovative Bank Provides SBA Loan to Buy Great Steak And Potato Company the Franchise

Need a loan to purchase a Great Steak And Potato Company the franchise? Innovative Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Great Steak And Potato Company the franchise may simply require a phone call to a local SBA banker. In 2007, Innovative Bank issued an SBA franchise loan to an entrepreneur in Paramus, New Jersey. Because Great Steak And Potato Company the was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

GREAT STEAK & POTATO
PARAMUS, NJ 07652

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Steak And Potato Company the franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the borrowed money would help create 1 new job.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

Find an SBA Lender in Oakland, California

California SBA 7A Banks