How to Get a Loan for Schools and Instruction

With these commercial loans for schools and instruction, the SBA guarantees the lender that the loan will be repaid. This schools and instruction loan for $850,000 was given to a New York entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Centereach, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was 1st Constitution Bank, based in Cranbury, New Jersey.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
CENTEREACH, NY 11720

SBA Loan Lender

1ST CONSTITUTION BANK
RTE 130 & DEY RD
CRANBURY, NJ 08512

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

5/5/2005

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Cranbury, New Jersey

SBA Lenders in New Jersey