Local Business Gets a New Jersey Business Loan

Business loans in New Jersey are hard to find these days. We take a look at one New Jersey business loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Westwood, New Jersey was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
WESTWOOD, NJ 07675

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This SBA bank 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.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

11/18/2003

Loan Approval Gross Amount

$33,500

Loan Approval from the SBA

Of the total $33,500 loan amount, the SBA guaranteed $16,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $33,500. How would you spend $33,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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SBA Approved Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island