Borrowing Money for Full-Service Restaurants

Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $130,000 full-service restaurants loan was issued by a New Jersey bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Woori America Bank, out of Fort Lee, New Jersey. The loan was granted and they received $130,000 to help grow their Philadelphia, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PHILADELPHIA, PA 19106

SBA Loan Lender

WOORI AMERICA BANK
183 MAIN ST
FORT LEE, NJ 07024

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

8/20/2002

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Philadelphia PA, you ought to talk with a local Philadelphia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Philadelphia businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Woori America Bank and they will explain how you can get an SBA loan for your company.

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

Good Banks for Small Business in Fort Lee, New Jersey

New Jersey SBA Bank Lenders