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May 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Vineland, Business Loans > Sun National Bank Vineland Business Loans > Store Retailers Loan | ||||
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Sun National Bank Business Loan Ocean City
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Ocean City, New Jersey Business Gets SBA-Guaranteed Funding from Sun National BankSun National Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ocean City, New Jersey was able to borrow $56,500 from Sun National Bank. The SBA made the loan possible by guaranteeing $48,025 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender SUN NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 8/12/2005 Loan Approval Gross Amount $56,500 Loan Approval from the SBA Of the total $56,500 loan amount, the SBA guaranteed $48,025. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sun National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Vineland, New Jersey
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