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May 17, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Cranbury, Business Loans > 1st Constitution Bank Cranbury Business Loans > Eating Places Loan | ||||
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New Jersey Bank SBA Loans
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1st Constitution Bank SBA Loan to Eating Places CompanyWant a New Jersey small business loan? Here's one New Jersey business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Trenton, New Jersey was able to borrow $65,000 from 1st Constitution Bank. The SBA made the loan possible by guaranteeing $52,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender 1ST CONSTITUTION BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 4/13/2000 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $52,000. 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 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. 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. We can help you find the best banks for small businesses in Trenton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Cranbury, New Jersey
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