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May 18, 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 > Plastics Materials And Basic Forms And Shapes Merchant Wholesalers Loan | ||||
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Getting a Small Business Loan from Valley National Bank
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Valley National Bank SBA Loan to Plastics Materials And Basic Forms And Shapes Merchant Wholesalers CompanyValley National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Valley National Bank, out of North Plainfield, New Jersey. The loan was granted and they received $450,000 to help grow their Newton, New Jersey business. SBA Loan Borrower COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES MERCHANT WHOLESALERS SBA Loan Lender VALLEY NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers Loan Approval Date 9/29/2005 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help retain 18 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $450,000 loan. Remember, anyone can do it... so why not 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: Who Lends Money to Small Businesses in North Plainfield, New Jersey
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