Technical and Trade Schools Commercial Loans

Looking for commercial loans for technical and trade schools? The SBA may be the answer. This $300,000 technical and trade schools loan was issued by a New York bank.

Getting a small business loan in Jersey City, New Jersey was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of New York City, New York. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS
JERSEY CITY, NJ 07306

SBA Loan Lender

SOVEREIGN BANK
195 MONTAGUE ST
NEW YORK CITY, NY 11201

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611519 - Technical and Trade Schools

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in New York City, New York

Getting an SBA Loan in New York