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May 8, 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 > Motor Vehicle Towing Loan | ||||
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Valley National Bank SBA Loan Hackensack, NJ
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Valley National Bank SBA Loan to Motor Vehicle Towing CompanyValley National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Hackensack, New Jersey, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Valley National Bank, based in North Plainfield, New Jersey. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender VALLEY NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 2/15/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Valley National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA Participating Banks in North Plainfield, New Jersey
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