Small Business Loans for Household Vacuum Cleaner Manufacturing

With these small business loans for household vacuum cleaner manufacturing, the SBA guarantees the lender that the loan will be repaid. This household vacuum cleaner manufacturing loan for $35,000 was given to a New Jersey entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Bergenfield, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Td Banknorth, based in Saddle Brook, New Jersey.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD VACUUM CLEANER MANUFACTURING
BERGENFIELD, NJ 07621

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

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

335212 - Household Vacuum Cleaner Manufacturing

Loan Approval Date

2/8/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 no employees. The SBA loan documents indicated that the borrowed money would help generate 1 new job.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Business Credit Evaluation

SBA Participating Banks in Saddle Brook, New Jersey

Browse All Business Loan Sources for New Jersey