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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Sovereign Bank New York City Business Loans > Services For The Elderly And Persons With Disabilities Loan | ||||
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Small Business Banks for Oak Island Junction, New Jersey Businesses
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Where to Get Capital for Services for the Elderly and Persons with DisabilitiesWith these SBA loans for services for the elderly and persons with disabilities, the SBA guarantees the lender that the loan will be repaid. This services for the elderly and persons with disabilities loan for $1,033,000 was given to a New Jersey entrepreneur in 2002. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Sovereign Bank, out of New York City, New York. The loan was granted and they received $1,033,000 to help grow their Oak Island Junction, New Jersey business. SBA Loan Borrower COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES SBA Loan Lender SOVEREIGN BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 8/21/2002 Loan Approval Gross Amount $1,033,000 Loan Approval from the SBA Of the total $1,033,000 loan amount, the SBA guaranteed $774,750. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 17 new jobs and retain 17 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign Bank 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: SBA 7A Banks for New York City, New York Loans
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