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May 9, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Cranford, Business Loans > First State Bank Cranford Business Loans > Home Centers Loan | ||||
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Boonton Small Business Loans from First State Bank
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Business Loan from First State Bank Given to Home Centers CompanyAn SBA loan from First State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Boonton, New Jersey business owner got a $100,000 loan. This growing company knew how to go about getting a business bank loan. Based in Boonton, New Jersey, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First State Bank, based in Cranford, New Jersey. SBA Loan Borrower COMPANY TYPE: HOME CENTERS SBA Loan Lender FIRST STATE BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 444110 - Home Centers Loan Approval Date 10/26/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA Banks in Cranford, New Jersey
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