Bay Head, NJ Entrepreneur Gets SBA Loan to Buy F-O-R-T-U-N-E Personnel Franchise

Borrowing money to invest in a F-O-R-T-U-N-E Personnel franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bay Head, New Jersey needed money to invest in a F-O-R-T-U-N-E Personnel franchise back in 2001. Bank Of America issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

FORTUNE PERSONNEL CONSULTANTS
BAY HEAD, NJ 08742

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541612 - Human Resources Consulting Services

Loan Approval Date

12/26/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a F-O-R-T-U-N-E Personnel franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America 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.

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