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April 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Wilmington, Business Loans > Wilmington Savings Fund Societ Wilmington Business Loans > Heavy Construction Equipment Rental And Leasing Loan | ||||
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Who Lends Money to Salem Small Business Owners
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Growing Company Gets a New Jersey Small Business LoanWant a New Jersey bank loan? This New Jersey entrepreneur got a bank loan, provided by a Delaware bank that works with the SBA to help small business owners. By giving the right information to Wilmington Savings Fund Societ, this Salem, New Jersey business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING SBA Loan Lender WILMINGTON SAVINGS FUND SOCIET The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7353 - Heavy Construction Equipment Rental and Leasing Loan Approval Date 5/16/2000 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 23 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wilmington Savings Fund Societ 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: Best Banks for Small Business in Wilmington, Delaware Find an SBA Lender in Delaware
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