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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Drinking Places Loan | ||||
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Who Lends Money to Clifton Businesses
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Clifton, New Jersey Entrepreneur Gets an SBA LoanNew JerseySmall business loans are available to New Jersey small business owners through the SBA. In this case, a New York bank provides the loan. By giving the right information to Banco Popular North America, this Clifton, New Jersey business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BANCO POPULAR NORTH AMERICA 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. SIC Code 5813 - Drinking Places NAICS Code 722410 - Drinking Places Loan Approval Date 6/13/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Small Bank Loans in New York City, New York
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