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May 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Woodbury, Business Loans > The Bank Woodbury Business Loans > Schools And Instruction Loan | ||||
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New Jersey SBA Loan from The Bank
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SBA Loan from The Bank Helps Schools And Instruction CompanyAn SBA loan from The Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Morris Plains, New Jersey business owner got a $100,000 loan. This business knew how to go about getting a business bank loan. Based in Morris Plains, New Jersey, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was The Bank, based in Woodbury, New Jersey. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION SBA Loan Lender THE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611699 - Schools and Instruction Loan Approval Date 3/2/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options SBA 7A Banks for Woodbury, New Jersey Loans
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