Borrow Money to Buy a Peddler Steak House & Lounge Franchise

Borrowing money to purchase a Peddler Steak House & Lounge franchise? Hsbc Bank Usa has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Peddler Steak House & Lounge franchise shouldn't be overly burdensome. In 2003, Hsbc Bank Usa issued an SBA franchise loan to an entrepreneur in Rockaway, New Jersey. Because Peddler Steak House & Lounge was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

POPEYE'S CHICKEN & BISCUIT
ROCKAWAY, NJ 07866

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Peddler Steak House & Lounge franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

VC Firms on Twitter

Best Buffalo, New York Banks for Small Business

SBA New York Lenders