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May 3, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Hartford, Business Loans > Business Lenders, LLC Hartford Business Loans > Operators Of Nonresidental Buildings Loan | ||||
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Business Lenders, LLC SBA Loans Somers Point
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Business Loan from Business Lenders, LLC Given to Operators Of Nonresidental Buildings CompanyBusiness Lenders, LLC 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 business knew how to go about getting a business bank loan. Based in Somers Point, New Jersey, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Business Lenders, LLC, based in Hartford, Connecticut. SBA Loan Borrower COMPANY TYPE: OPERATORS OF NONRESIDENTAL BUILDINGS SBA Loan Lender BUSINESS LENDERS, LLC 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. SIC Code 6512 - Operators of Nonresidental Buildings Loan Approval Date 1/10/2000 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 a new 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 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Business Lenders, LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Dealing With Venture Capitalists Small Business Banks in Hartford, Connecticut
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