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May 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Vineland, Business Loans > Sun National Bank Vineland Business Loans > Child Day Care Services Loan | ||||
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Getting a Small Business Loan in Atlantic City, New Jersey
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New Jersey Business Loan Issued to Child Day Care Services CompanyNew JerseySmall business loans are available to New Jersey small business owners through the SBA. In this case, a New Jersey bank provides the loan. This business, based in Atlantic City, 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 Sun National Bank. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender SUN NATIONAL BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 7/3/2007 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 4 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. Sun National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sun National 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Vineland, New Jersey
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