Where to Get Capital for New Multifamily Housing Construction

With these small business loans for new multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This new multifamily housing construction loan for $25,000 was given to a New Jersey entrepreneur in 2007.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $25,000 to help grow their Closter, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION
CLOSTER, NJ 07624

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

236116 - New Multifamily Housing Construction

Loan Approval Date

11/9/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Closter NJ, you ought to talk with a local Closter SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Closter businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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