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May 16, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New Brunswick, Business Loans > New Millennium Bank New Brunswick Business Loans > Theater Companies And Dinner Theaters Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Theater Companies and Dinner Theaters LoansLooking for loans for theater companies and dinner theaters? Talk to a banker who works with the SBA. This $532,000 theater companies and dinner theaters loan was issued by a New Jersey bank. Getting a small business loan in Brick, New Jersey was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from New Millennium Bank, operating out of New Brunswick, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: THEATER COMPANIES AND DINNER THEATERS SBA Loan Lender NEW MILLENNIUM BANK This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 711110 - Theater Companies and Dinner Theaters Loan Approval Date 8/30/2002 Loan Approval Gross Amount $532,000 Loan Approval from the SBA Of the total $532,000 loan amount, the SBA guaranteed $399,000. 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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $532,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - How to Decide How Much to Raise Best Banks in New Brunswick, New Jersey Getting an SBA Loan in New Jersey
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