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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Nail Salons Loan | ||||
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Bnb Bank, National Association
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Bronx, New York Business Gets SBA-Guaranteed Funding from Bnb Bank, National AssociationAn SBA loan from Bnb Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bronx, New York business owner got a $100,000 loan. This small firm knew how to go about getting a business bank loan. Based in Bronx, New York, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Bnb Bank, National Association, based in Fort Lee, New Jersey. SBA Loan Borrower COMPANY TYPE: NAIL SALONS SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION This lender provides SBA business 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 812113 - Nail Salons Loan Approval Date 8/9/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Participating Banks in New Jersey
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