Raising Money for Full-Service Restaurants

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $5,000 was given to a Pennsylvania entrepreneur in 2007.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bnb Bank, National Association, out of Fort Lee, New Jersey. The loan was granted and they received $5,000 to help grow their Philadelphia, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PHILADELPHIA, PA 19147

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2007

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $2,500.

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 22 employees. The loan application indicated that the loan would help generate 22 new jobs and retain 22 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Bnb Bank, National Association 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.

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