Lakeland Bank SBA Loan to Eating Places Company

An SBA loan from Lakeland Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Union City, New Jersey business owner got a $250,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Union City, New Jersey, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Lakeland Bank, based in Teaneck, New Jersey.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
UNION CITY, NJ 07087

SBA Loan Lender

LAKELAND BANK
417 CEDAR LN
TEANECK, NJ 07666

At the time this loan was granted, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/23/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 4 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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.

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