Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $350,000 full-service restaurants loan was issued by a Virginia bank.

Getting a small business loan in Union (township Of), New Jersey was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from River Commun Bank, operating out of Martinsville, Virginia. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
UNION (TOWNSHIP OF), NJ 07083

SBA Loan Lender

RIVER COMMUN BANK
730 E CHURCH ST
MARTINSVILLE, VA 24112

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

11/3/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 14 existing jobs.

Getting an SBA Loan For Your Business

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

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 $350,000 loan. Remember, things become real when you believe you can achieve them!

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:

SBIR Funding

Best Martinsville, Virginia Banks for Small Business

SBA Lenders in Virginia