SBA Loan from Skylands Community Bank Helps Landscaping Services Company

An SBA loan from Skylands Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Washington, New Jersey business owner got a $20,400 loan.

This small firm knew how to go about getting a business bank loan. Based in Washington, New Jersey, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Skylands Community Bank, based in Hackettstown, New Jersey.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
WASHINGTON, NJ 07882

SBA Loan Lender

SKYLANDS COMMUNITY BANK
176 MOUNTAIN AVE
HACKETTSTOWN, NJ 07840

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

561730 - Landscaping Services

Loan Approval Date

2/16/2005

Loan Approval Gross Amount

$20,400

Loan Approval from the SBA

Of the total $20,400 loan amount, the SBA guaranteed $10,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $20,400 loan. Remember, fight for what you want, and it will be yours!

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:

Financing Your Business

Best Banks for Small Business in Hackettstown, New Jersey

Getting an SBA Loan in New Jersey