Where to Get Capital for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $260,000 was given to a New Jersey entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Skylands Community Bank, out of Somerville, New Jersey. The loan was granted and they received $260,000 to help grow their Skillman, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SKILLMAN, NJ 08844

SBA Loan Lender

SKYLANDS COMMUNITY BANK
50 W END AVE
SOMERVILLE, NJ 08876

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $260,000. How would you spend $260,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

504 Loans

SBA 7A Banks for Somerville, New Jersey Loans

New Jersey SBA 7A Lenders