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May 10, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Lawyers Loan | ||||
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How to Get SBA Loans in Madison (township Of), New Jersey
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Financing for LawyersWith these commercial loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $100,000 was given to a New Jersey entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Madison (township Of), New Jersey was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender BANK OF AMERICA The lender provided this commercial loan 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 541110 - Lawyers Loan Approval Date 6/7/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 11 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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. Related Links: SBA Banks in Providence, Rhode Island
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