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May 2, 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 > New Beginnings Realty Inc Loan | ||||
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I Need an SBA 7A Loan to Buy a Franchise in Gillette, New Jersey
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Valley National Bank Provides SBA Loan to Buy Century 21 FranchiseNeed a loan to invest in a Century 21 franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Gillette, New Jersey and are interested in buying a Century 21 franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Valley National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower NEW BEGINNINGS REALTY INC 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. NAICS Code 531210 - Real Estate Agents and Brokers Loan Approval Date 10/12/2005 Loan Approval Gross Amount $463,800 Loan Approval from the SBA Of the total $463,800 loan amount, the SBA guaranteed $347,850. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Century 21 franchise. At the time of the loan, the company had 38 employees. The SBA loan application for the borrower indicated that the loan would help retain 38 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Century 21 Real Estate Corporation SBA Participating Banks in North Plainfield, New Jersey
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