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November 16, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Cranbury, Business Loans > 1st Constitution Bank Cranbury Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Cranbury, New Jersey Bank for SBA Loans
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Cranbury, New Jersey Lender Lends Money to Nondurable Goods Merchant Wholesalers CompanyThinking about meeting with a Cranbury, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a Cranbury bank, that was approved by the SBA. Applying for an SBA loan with 1st Constitution Bank worked out well for our friends at one local firm in Bayonne, New Jersey. The business was able to get an SBA loan for $200,000. Awesome! SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender 1ST CONSTITUTION BANK The lender provided this bank 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 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 7/21/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $200,000 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. Related Links: SBA Participating Banks in Cranbury, New Jersey
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