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December 24, 2024  
 
 
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Loan Census SBA Loan Info

Growing Company Gets a New Jersey Business Loan

New JerseyBank loans are available to New Jersey firms through the SBA. In this case, a New Jersey bank provides the loan.

By giving the right information to Equity Bank, this Cinnaminson, New Jersey business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
CINNAMINSON, NJ 08077

SBA Loan Lender

EQUITY BANK
8000 SAGEMORE DR, STE 8101
MARLTON, NJ 08053

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5912 - Drug Stores and Proprietary Stores

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

6/4/2001

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

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 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $270,000 loan. Remember, things become real when you believe you can achieve them!

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Marlton, New Jersey

New Jersey SBA Bank Lenders