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May 12, 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 > Drinking Places Loan | ||||
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Raising Money in Bayonne, New Jersey With SBA Loans
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How to Get a Loan for Drinking PlacesWith these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $360,000 was given to a New Jersey entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Bayonne, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was 1st Constitution Bank, based in Cranbury, New Jersey. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender 1ST CONSTITUTION BANK This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5813 - Drinking Places NAICS Code 722410 - Drinking Places Loan Approval Date 3/12/2003 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st Constitution Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st Constitution Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options SBA 7A Banks in Cranbury, New Jersey
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