Company Gets a New Jersey Business Loan
Want a New Jersey SBA loan? This New Jersey entrepreneur got an SBA loan, provided by a New Jersey bank that works with the SBA to help small business owners.
Getting a small business loan in Belleville, New Jersey was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Valley National Bank. Here are the details on this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: SOUND RECORDING STUDIOS
BELLEVILLE, NJ 07109
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
512240 - Sound Recording Studios
Loan Approval Date
6/2/2005
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Angel Investors
SBA Participating Banks in North Plainfield, New Jersey
New Jersey SBA 7A Lenders