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May 4, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Supermarkets And Grocery Stores Loan | ||||
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New Jersey Bank SBA Loans
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Fort Lee, New Jersey Lender Lends Money to Supermarkets And Grocery Stores CompanyA Fort Lee, New Jersey small business loan can be yours. Learn how a business got a $10,000 business loan from this New Jersey bank. This loan to a local firm is a good example of an SBA loan. Bnb Bank, National Association made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 4/12/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 10 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Find an SBA Lender in Fort Lee, New Jersey Getting an SBA Loan in New Jersey
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