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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Manufacturing Loan | ||||
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Small Business Banks That Lend to New Jersey Small Businesses
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Growing Company Gets a New Jersey Bank LoanSearching for a New Jersey bank loan? This New Jersey entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners. Getting a small business loan in Rahway, New Jersey was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender BANK OF THE WEST 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 339999 - Manufacturing Loan Approval Date 10/21/2002 Loan Approval Gross Amount $435,000 Loan Approval from the SBA Of the total $435,000 loan amount, the SBA guaranteed $326,250. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The West had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The West 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: Best Banks for Small Business in San Francisco, California
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