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May 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Building Cleaning And Maintenance Services, N.E.C Loan | ||||
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New Jersey Bank SBA Loans
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Valley National Bank SBA Loan to Building Cleaning And Maintenance Services, N.E.C CompanyLooking to get a New Jersey SBA loan? Here's one New Jersey business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Grove, New Jersey was able to borrow $50,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $40,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: BUILDING CLEANING AND MAINTENANCE SERVICES, N.E.C SBA Loan Lender VALLEY NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7349 - Building Cleaning and Maintenance Services, N.E.C Loan Approval Date 9/1/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, you 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Raising VC Money for Social Networking Companies SBA 7A Banks for North Plainfield, New Jersey Loans Getting an SBA Loan in New Jersey
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