Skylands Community Bank Provides SBA Loan to Buy Dollar Rent A Car Franchise

Need a loan to purchase a Dollar Rent A Car franchise? Skylands Community Bank has a history of making these loans and they are guaranteed by the SBA.

Dollar Rent A Car franchise loans are available to Bridgewater, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Skylands Community Bank, based in Somerville, New Jersey, issued an SBA franchise loan for a Dollar Rent A Car franchise in 2000. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

VALUE TRAN INC
BRIDGEWATER, NJ 08807

SBA Loan Lender

SKYLANDS COMMUNITY BANK
50 W END AVE
SOMERVILLE, NJ 08876

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532111 - Passenger Car Rental

Loan Approval Date

10/11/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Dollar Rent A Car franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Skylands Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Skylands Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Microlending as a Small Business Funding Source

Best Somerville, New Jersey Banks for Small Business

Getting a Business Loan in New Jersey