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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Full-Service Restaurants Loan | ||||
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Small Business Banks That Lend to New Jersey Entrepreneurs
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Company Gets a New Jersey SBA LoanNew JerseySBA loans are available to New Jersey entrepreneurs through the SBA. In this case, a Pennsylvania bank provides the loan. Getting a small business loan in East Brunswick, New Jersey was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SOVEREIGN BANK This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 722110 - Full-Service Restaurants Loan Approval Date 12/28/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sovereign Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Banks for Small Business in Villanova, Pennsylvania
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