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May 16, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Fort Lee, Business Loans > Fort Lee Fed. Savings Bank Fsb Fort Lee Business Loans > Eating Places Loan | ||||
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Haledon, New Jersey Bank Loan
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Theater Companies and Dinner Theaters Business LoansWith these business loans for theater companies and dinner theaters, the SBA guarantees the lender that the loan will be repaid. This theater companies and dinner theaters loan for $750,000 was given to a New Jersey entrepreneur in 2004. Getting a small business loan in Haledon, New Jersey was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Fort Lee Fed. Savings Bank Fsb, operating out of Fort Lee, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FORT LEE FED. SAVINGS BANK FSB SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 711110 - Theater Companies and Dinner Theaters Loan Approval Date 4/6/2004 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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. Related Links: How Much Venture Capital Is There? SBA 7A Banks for Fort Lee, New Jersey Loans
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