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May 11, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Industrial Supplies Loan | ||||
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New Jersey Small Business SBA Loans
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Westville, New Jersey Entrepreneur Gets a Business LoanNew JerseyBank loans are available to New Jersey firms through the SBA. In this case, a Rhode Island bank provides the loan. This company, based in Westville, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES SBA Loan Lender BANK OF AMERICA This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 5085 - Industrial Supplies NAICS Code 421840 - Industrial Supplies Wholesalers Loan Approval Date 5/24/2000 Loan Approval Gross Amount $26,400 Loan Approval from the SBA Of the total $26,400 loan amount, the SBA guaranteed $13,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in Providence, Rhode Island Getting an SBA Loan in Rhode Island
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