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May 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Cranbury, Business Loans > 1st Constitution Bank Cranbury Business Loans > Full-Service Restaurants Loan | ||||
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SBA 7A Banks for Leonia, New Jersey Business Owners
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Full-Service Restaurants LoansLooking for loans for full-service restaurants? Try the SBA. This $290,000 full-service restaurants loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Leonia, New Jersey was able to borrow $290,000 from 1st Constitution Bank. The SBA made the loan possible by guaranteeing $217,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST CONSTITUTION BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/12/2007 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Cranbury, New Jersey
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