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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Shinhan Bank America New York City Business Loans > Business Service Centers Loan | ||||
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How to Get SBA Money in Jersey City, New Jersey
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Shinhan Bank America Gives SBA Loan to Business Service Centers CompanyNew JerseyBusiness loans are available to New Jersey business owners through the SBA. In this case, a New York bank provides the loan. Getting a small business loan in Jersey City, New Jersey was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Shinhan Bank America. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICE CENTERS SBA Loan Lender SHINHAN BANK AMERICA 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 561439 - Business Service Centers Loan Approval Date 2/10/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shinhan Bank America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shinhan Bank America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business Small Bank Loans in New York City, New York
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