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May 17, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Saddle Brook, Business Loans > Interchange Finan Services Cor Saddle Brook Business Loans > Full-Service Restaurants Loan | ||||
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How to Get an SBA Loan from Interchange Finan Services Cor
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Interchange Finan Services Cor SBA Loan to Full-Service Restaurants CompanyAn SBA loan from Interchange Finan Services Cor typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Jersey City, New Jersey business owner got a $900,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jersey City, New Jersey was able to borrow $900,000 from Interchange Finan Services Cor. The SBA made the loan possible by guaranteeing $675,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender INTERCHANGE FINAN SERVICES COR This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/8/2001 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 150 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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 Interchange Finan Services Cor 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: Who Lends Money to Small Businesses in Saddle Brook, New Jersey
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