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May 17, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Woodbury, Business Loans > The Bank Woodbury Business Loans > Lessors Of Nonresidential Buildings Loan | ||||
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How to Get SBA Loans in Camden, New Jersey
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Small Business Loans for Lessors of Nonresidential BuildingsWith these small business loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $320,000 was given to a New Jersey entrepreneur in 2002. This company knew how to go about getting a business bank loan. Based in Camden, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was The Bank, based in Woodbury, New Jersey. SBA Loan Borrower COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS SBA Loan Lender THE BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 531120 - Lessors of Nonresidential Buildings Loan Approval Date 1/17/2002 Loan Approval Gross Amount $320,000 Loan Approval from the SBA Of the total $320,000 loan amount, the SBA guaranteed $240,000. 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 12 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 The 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: Best Banks for Small Business in Woodbury, New Jersey
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