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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Pennington, Business Loans > Hopewell Valley Community Bank Pennington Business Loans > Security Systems Services Loan | ||||
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Best Banks That Lend to New Jersey Small Businesses
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New Jersey Business Loan Issued to Security Systems Services CompanyBusiness loans in New Jersey are hard to find these days. We take a look at one New Jersey business loan, provided by a New Jersey bank, that was approved by the SBA. Getting a small business loan in Pennington, New Jersey was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Hopewell Valley Community Bank. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES SBA Loan Lender HOPEWELL VALLEY COMMUNITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7382 - Security Systems Services NAICS Code 561621 - Security Systems Services Loan Approval Date 9/7/2001 Loan Approval Gross Amount $375,000 Loan Approval from the SBA Of the total $375,000 loan amount, the SBA guaranteed $281,250. 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 7 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $375,000 loan. Remember, where there is a will, there is a way! 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: SBA 7A Banks for Pennington, New Jersey Loans
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