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May 19, 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 > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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Ledgewood, New Jersey Bank for SBA Loans
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Financing for Motorcycle, ATV, and Personal Watercraft DealersWith these commercial loans for motorcycle, atv, and personal watercraft dealers, the SBA guarantees the lender that the loan will be repaid. This motorcycle, atv, and personal watercraft dealers loan for $1,100,000 was given to a New Jersey entrepreneur in 2003. This business knew how to go about getting a business bank loan. Based in Ledgewood, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Valley National Bank, based in North Plainfield, New Jersey. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS 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 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 8/26/2003 Loan Approval Gross Amount $1,100,000 Loan Approval from the SBA Of the total $1,100,000 loan amount, the SBA guaranteed $825,000. 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 only one employee. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley National Bank 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: Raising VC Money for Social Networking Companies SBA 7A Banks for North Plainfield, New Jersey Loans Getting an SBA Loan in New Jersey
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