Business Loan from Amboy Bancorporation Given to Grocery Stores Company

Amboy Bancorporation and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Old Bridge, New Jersey was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Amboy Bancorporation, operating out of Old Bridge, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
OLD BRIDGE, NJ 08857

SBA Loan Lender

AMBOY BANCORPORATION
3590 US HWY 9
OLD BRIDGE, NJ 08857

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

SBA 7A Banks in Old Bridge, New Jersey

Getting an SBA Loan in New Jersey