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May 13, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Windsor, Business Loans > The Bank Windsor Business Loans > Custom Computer Programming Services Loan | ||||
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How to Get an SBA Loan in Princeton, New Jersey
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Growing Company Gets a New Jersey Bank LoanWould a New Jersey bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs. Getting a small business loan in Princeton, New Jersey was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Bank. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES SBA Loan Lender THE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541511 - Custom Computer Programming Services Loan Approval Date 5/24/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Participating Banks in Windsor, New Jersey
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