How to Get a Loan for Prerecorded Tape, Compact Disc, and Record Stores

With these SBA loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $850,000 was given to a New Jersey entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Hackensack, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Lakeland Bank, based in Newfoundland, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
HACKENSACK, NJ 07601

SBA Loan Lender

LAKELAND BANK
2717 RTE 23 SOUTH
NEWFOUNDLAND, NJ 07435

This lender provides SBA debt financing 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

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

5/8/2006

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Getting an SBA Loan in New Jersey