Newark, New Jersey Bank Lends Money to Retail Bakeries Company in Newark, New Jersey

Get to know Newark, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. City National Bank - New Jersey is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Newark, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from City National Bank - New Jersey. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
NEWARK, NJ 07104

SBA Loan Lender

CITY NATIONAL BANK - NEW JERSEY
900 BROAD ST
NEWARK, NJ 07102

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

7/2/2003

Loan Approval Gross Amount

$247,500

Loan Approval from the SBA

Of the total $247,500 loan amount, the SBA guaranteed $185,625.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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New Jersey SBA 7A Lenders