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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Vineland, Business Loans > Sun National Bank Vineland Business Loans > Warehousing And Storage Loan | ||||
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Banks in Vineland, New Jersey That Make SBA Loans
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Vineland, New Jersey Bank Gives SBA Loan to Warehousing And Storage CompanyWant to talk with a Vineland, New Jersey bank about a small business loan? Here's one New Jersey business loan, issued by a Vineland bank, that was approved by the SBA. Applying for an SBA loan with Sun National Bank worked out well for our friends at one local firm in Clifton, New Jersey. They got an SBA loan for $200,000. Awesome! SBA Loan Borrower COMPANY TYPE: WAREHOUSING AND STORAGE SBA Loan Lender SUN NATIONAL BANK The lender provided this business 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 493190 - Warehousing and Storage Loan Approval Date 7/3/2007 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 29 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 29 existing jobs. Great, But How Can I Get an SBA Loan for My 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sun National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 7A Banks for Vineland, New Jersey Loans
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