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April 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Paramus, Business Loans > Columbia Bank Paramus Business Loans > Lumber, Plywood, Millwork, And Wood Panels Loan | ||||
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New Jersey Bank SBA Loans
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Columbia Bank SBA Loan to Lumber, Plywood, Millwork, And Wood Panels CompanyLooking to get a New Jersey small business loan? Here's one New Jersey business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in South Hackensack, New Jersey, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Columbia Bank, based in Paramus, New Jersey. SBA Loan Borrower COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS SBA Loan Lender COLUMBIA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5031 - Lumber, Plywood, Millwork, and Wood Panels NAICS Code 421310 - Loan Approval Date 10/3/2000 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs. 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Columbia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Paramus, New Jersey Banks for Small Business
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