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May 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Teaneck, Business Loans > Lakeland Bank Teaneck Business Loans > Residential Care Facilities Loan | ||||
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New Jersey Bank SBA Loans
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SBA Loan from Lakeland Bank Helps Residential Care Facilities CompanyLakeland Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Franklin, New Jersey was able to borrow $660,000 from Lakeland Bank. The SBA made the loan possible by guaranteeing $495,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL CARE FACILITIES SBA Loan Lender LAKELAND BANK This bank loan 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. NAICS Code 623990 - Residential Care Facilities Loan Approval Date 4/13/2007 Loan Approval Gross Amount $660,000 Loan Approval from the SBA Of the total $660,000 loan amount, the SBA guaranteed $495,000. 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 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Small Business Banks in Teaneck, New Jersey
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