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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Turnersville, Business Loans > Royal Bank America Turnersville Business Loans > Variety Stores Loan | ||||
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NJ SBA Loans from Royal Bank America
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Royal Bank America SBA Loan to Variety Stores CompanyRoyal Bank America and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Pennsauken, New Jersey was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Royal Bank America, operating out of Turnersville, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: VARIETY STORES SBA Loan Lender ROYAL BANK AMERICA This debt financing 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 5331 - Variety Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 2/1/2005 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Royal Bank America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Royal Bank America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Small Bank Loans in Turnersville, New Jersey
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