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May 7, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Supermarkets And Grocery Stores Loan | ||||
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How to Get an SBA Loan in Union (township Of), New Jersey
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New Jersey Bank Loan Issued to Supermarkets And Grocery Stores CompanyBank loans in New Jersey are are few and far betweeen these days. We take a look at one New Jersey bank loan, provided by a California bank, that was approved by the SBA. This company, based in Union (township Of), New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Nara Bank. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender NARA 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. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 7/26/2007 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 95 employees. The loan application indicated that the loan would help generate 75 new jobs and retain 95 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Nara 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: Good Banks for Small Business in Los Angeles, California
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