Specialty Trade Contractors Commercial Loans

With these commercial loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $350,000 was given to a New Jersey entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Belvidere, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Newalliance Bank, based in New Haven, Connecticut.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
BELVIDERE, NJ 07823

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

10/24/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Belvidere NJ, you ought to talk with a local Belvidere SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Belvidere businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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