New Jersey Business Loan Issued to Temporary Help Services Company

Small business loans in New Jersey are tough to come by these days. We take a look at one New Jersey small business loan, provided by a Rhode Island bank, that was approved by the SBA.

This small business, based in Kearny, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: TEMPORARY HELP SERVICES
KEARNY, NJ 07030

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561320 - Temporary Help Services

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$40,300

Loan Approval from the SBA

Of the total $40,300 loan amount, the SBA guaranteed $20,150.

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 37 employees. This SBA loan request indicated that the loan would help retain 37 existing jobs.

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

If you want money for new small business in Kearny NJ, you ought to talk with a local Kearny SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kearny businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America 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.

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SBA Participating Banks in Rhode Island