Loan Census Banking News and Information
October 31, 2024  
 
 
  Business Loan Information  
 

Banks Doing SBA Loans in New Jersey

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Fort Lee, New Jersey Bank to Get an SBA Loan

A Fort Lee, New Jersey SBA loan can be yours. Learn how a business got a $392,000 business loan from this New Jersey bank.

This loan to a local firm is a good example of an SBA loan. Bnb Bank, National Association made the loan and the SBA guaranteed a portion of the loan. Many other Pennsylvania entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: NAIL SALONS
MERION PARK, PA 19006

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

This lender provides SBA small 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

812113 - Nail Salons

Loan Approval Date

5/9/2007

Loan Approval Gross Amount

$392,000

Loan Approval from the SBA

Of the total $392,000 loan amount, the SBA guaranteed $294,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bnb Bank, National Association 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.

Related Links:

Obtaining Funding - Friends and Family

SBA 7A Banks for Fort Lee, New Jersey Loans

New Jersey SBA Bank Lenders