How to Get a Loan for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $780,000 limited-service restaurants loan was issued by a New Jersey bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Commerce Bank/north, out of Ramsey, New Jersey. The loan was granted and they received $780,000 to help grow their Clinton, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CLINTON, NJ 08809

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

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

8/29/2006

Loan Approval Gross Amount

$780,000

Loan Approval from the SBA

Of the total $780,000 loan amount, the SBA guaranteed $585,000.

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 only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Clinton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

Small Business Banks in Ramsey, New Jersey

SBA Lenders in New Jersey