Business Loans for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,700,000 was given to a New Jersey entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Wayne (township Of), New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Td Banknorth, based in Saddle Brook, New Jersey.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WAYNE (TOWNSHIP OF), NJ 07470

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

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

722110 - Full-Service Restaurants

Loan Approval Date

7/21/2004

Loan Approval Gross Amount

$1,700,000

Loan Approval from the SBA

Of the total $1,700,000 loan amount, the SBA guaranteed $1,275,000.

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 20 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Td Banknorth and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Banks in Saddle Brook, New Jersey

SBA Lenders in New Jersey