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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Shinhan Bank America New York City Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Loan | ||||
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Shinhan Bank America Business Loans
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Bergenfield, New Jersey Business Gets SBA-Guaranteed Funding from Shinhan Bank AmericaShinhan Bank America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bergenfield, New Jersey was able to borrow $440,000 from Shinhan Bank America. The SBA made the loan possible by guaranteeing $330,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS SBA Loan Lender SHINHAN BANK AMERICA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Loan Approval Date 5/31/2005 Loan Approval Gross Amount $440,000 Loan Approval from the SBA Of the total $440,000 loan amount, the SBA guaranteed $330,000. 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 13 employees. The loan application indicated that the loan would help retain 13 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Bergenfield NJ, you ought to talk with a local Bergenfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bergenfield businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Shinhan Bank America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in New York City, New York Browse All Business Loan Sources for New York
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