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April 25, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Jersey City, Business Loans > The Provident Bank Jersey City Business Loans > Jersey City Ponderosa, Inc. Loan | ||||
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Advice for Financing a Franchise
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New Jersey Entrepreneur Secures Financing to Buy Ponderosa Steak House FranchiseNeed a loan to invest in a Ponderosa Steak House franchise? The Provident Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Ponderosa Steak House franchise? If so, here's a 2000 SBA franchise loan that you should know about. The Provident Bank was the lender and the entrepreneur was based in Jersey City, New Jersey. SBA Loan Borrower JERSEY CITY PONDEROSA, INC. SBA Loan Lender THE PROVIDENT BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. 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 5/31/2000 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Ponderosa Steak House franchise. At the time of the loan, the company had 70 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Family and Friend Investors - Your First Financiers Small Bank Loans in Jersey City, New Jersey
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