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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Newfoundland, Business Loans > Lakeland Bank Newfoundland Business Loans > Manufacturing Loan | ||||
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New Jersey Bank SBA Loans
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Newfoundland, New Jersey Bank Lends Money to Manufacturing Company in Branchville, New JerseyWant to talk with a Newfoundland, New Jersey bank about a business loan? Here's one New Jersey business loan, issued by a Newfoundland bank, that was approved by the SBA. Applying for an SBA loan with Lakeland Bank worked out well for our friends at one local business in Branchville, New Jersey. The business was able to get an SBA loan for $50,000. Sweet! SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender LAKELAND BANK 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 339999 - Manufacturing Loan Approval Date 6/9/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source 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 Lakeland Bank 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: Obtaining Funding - Getting Venture Capital SBA 7A Banks for Newfoundland, New Jersey Loans
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