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April 28, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Cranbury, Business Loans > 1st Constitution Bank Cranbury Business Loans > Family Clothing Stores Loan | ||||
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How Do We Get a Business Loan in New York, New York?
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Commercial Loans for Family Clothing StoresLooking for commercial loans for family clothing stores? The SBA may be the answer. This $100,000 family clothing stores loan was issued by a New Jersey bank. This small business knew how to go about getting a business bank loan. Based in New York, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was 1st Constitution Bank, based in Cranbury, New Jersey. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender 1ST CONSTITUTION BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5651 - Family Clothing Stores NAICS Code 448140 - Family Clothing Stores Loan Approval Date 12/20/2002 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 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 loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st Constitution Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Accountant's Role in Securing Financing Best Cranbury, New Jersey Banks for Small Business Where to Get an SBA Loan New Jersey
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