Get an SBA Loan for Limited-Service Restaurants

Looking for small business loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $550,000 limited-service restaurants loan was issued by a Pennsylvania bank.

This company knew how to go about getting a business bank loan. Based in Somerset, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SOMERSET, NJ 08873

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 9 employees. The SBA loan documents indicated that the loan would help generate 14 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Somerset NJ, you ought to talk with a local Somerset SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Somerset businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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