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April 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Old Bridge, Business Loans > Amboy Bank Old Bridge Business Loans > For The Kids, LLCc Loan | ||||
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How to Get SBA Loans in Mt. Laurel, New Jersey
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New Jersey Entrepreneur Secures Financing to Buy Goddard Early Learning Center FranchiseNeed money to invest in a Goddard Early Learning Center franchise? Amboy Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Goddard Early Learning Center franchise may simply require a phone call to a local SBA banker. In 2004, Amboy Bank issued an SBA franchise loan to an entrepreneur in Mt. Laurel, New Jersey. Because Goddard Early Learning Center was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis. SBA Loan Borrower FOR THE KIDS, LLCC SBA Loan Lender AMBOY BANK This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 9/20/2004 Loan Approval Gross Amount $922,000 Loan Approval from the SBA Of the total $922,000 loan amount, the SBA guaranteed $691,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Goddard Early Learning Center franchise. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Who Lends Money to Small Businesses in Old Bridge, New Jersey
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