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May 1, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Get a Small Business Loan in Erma, New Jersey
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Erma, New Jersey Entrepreneur Gets a 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 California bank, that was approved by the SBA. By giving the right information to Wachovia Sba Lending, Inc., this Erma, New Jersey business was able to get an SBA loan. To get this loan, the applying company 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: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender WACHOVIA SBA LENDING, INC. 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. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 6/6/2007 Loan Approval Gross Amount $693,000 Loan Approval from the SBA Of the total $693,000 loan amount, the SBA guaranteed $519,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for 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 4 new jobs. 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. This SBA loan was for $693,000. How would you spend $693,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Borrowing Money from Friends and Family SBA 7A Lenders in Roseville, California
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