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April 29, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Commercial Photography Loan | ||||
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North Plainfield, New Jersey SBA 7A Banks
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North Plainfield, New Jersey Bank Gives SBA Loan to Commercial Photography CompanyGet to know North Plainfield, New Jersey banks that specialize in business loans and know how to work with entrepreneurs. Valley National Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in New York, New York starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Valley National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PHOTOGRAPHY SBA Loan Lender VALLEY NATIONAL BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541922 - Commercial Photography Loan Approval Date 9/27/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banking Deregulation's Effects on Entrepreneurship Small Business Banks in North Plainfield, New Jersey Getting an SBA Loan in New Jersey
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