Fort Lee, New Jersey Lender Lends Money to Electrical Contractors Company

A Fort Lee, New Jersey small business loan can be yours. Learn how one firm got a $500,000 business loan from this New Jersey bank.

This loan to an entrepreneur is a good example of an SBA loan. Bnb Bank, National Association made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
BRONX (BOROUGH OF NEW YORK), NY 10455

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $367,500.

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 24 employees. This SBA loan request indicated that the loan would help generate 24 new jobs and retain 24 existing jobs.

Getting an SBA Loan For Your Business

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bnb Bank, National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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