Bronx, New York Business Gets SBA-Guaranteed Funding from Bnb Bank, National Association

An SBA loan from Bnb Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bronx, New York business owner got a $980,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Bronx, New York, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Bnb Bank, National Association, based in Fort Lee, New Jersey.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL LAUNDERERS
BRONX, NY 10454

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812332 - Industrial Launderers

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$980,000

Loan Approval from the SBA

Of the total $980,000 loan amount, the SBA guaranteed $735,000.

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 47 employees. The SBA loan documents indicated that the loan would help generate 47 new jobs and retain 47 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $980,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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