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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Hollywood Tans Loan | ||||
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New Jersey Small Business Funding for Franchises
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Garwood, NJ Entrepreneur Gets SBA Loan to Buy Hollywood Tans FranchiseNeed a loan to invest in a Hollywood Tans franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Garwood, New Jersey needed money to invest in a Hollywood Tans franchise back in 2003. Valley National Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower HOLLYWOOD TANS SBA Loan Lender VALLEY NATIONAL BANK This lender provides SBA bank 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 812112 - Beauty Salons Loan Approval Date 1/24/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Remember, you 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Valley National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - Friends and Family Best Banks for Small Business in North Plainfield, New Jersey
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