Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? The SBA may be the answer. This $774,000 full-service restaurants loan was issued by a New Jersey bank.

This small firm knew how to go about getting a business bank loan. Based in Secaucus, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Commerce Bank/north, based in Ramsey, New Jersey.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SECAUCUS, NJ 07094

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/10/2005

Loan Approval Gross Amount

$774,000

Loan Approval from the SBA

Of the total $774,000 loan amount, the SBA guaranteed $580,500.

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 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $774,000 loan. Remember, if it to be, it is up to me!

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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