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May 10, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Fine Arts Schools Loan | ||||
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SBA Lenders for Small Business Owners in New Jersey
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Egg Harbor City (egg Harbor), New Jersey Entrepreneur Gets a Small Business LoanSBA loans in New Jersey are tough to come by these days. We take a look at one New Jersey SBA loan, provided by a Rhode Island bank, that was approved by the SBA. Getting a small business loan in Egg Harbor City (egg Harbor), New Jersey was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender BANK OF AMERICA This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611610 - Fine Arts Schools Loan Approval Date 1/17/2002 Loan Approval Gross Amount $12,000 Loan Approval from the SBA Of the total $12,000 loan amount, the SBA guaranteed $6,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, 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 Bank Of America 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 - How to Decide How Much to Raise Small Bank Loans in Providence, Rhode Island
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