Textile Product Mills Commercial Loans

Looking for commercial loans for textile product mills? An SBA loan may be just what you've been looking for. This $1,106,200 textile product mills loan was issued by a New Jersey bank.

This business knew how to go about getting a business bank loan. Based in Crookston, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Hudson United Bank, based in Mahwah, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
CROOKSTON, MN 56716

SBA Loan Lender

HUDSON UNITED BANK
1000 MACARTHUR BLVD.
MAHWAH, NJ 07430

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3089 - Plastics Products

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

11/9/2000

Loan Approval Gross Amount

$1,106,200

Loan Approval from the SBA

Of the total $1,106,200 loan amount, the SBA guaranteed $748,897.

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 123 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Hudson United 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.

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