Loan to Buy Relax The Back Store Franchise Issued By Valley National Bank

Borrowing money to purchase a Relax The Back Store franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Relax The Back Store franchise? If so, here's a 2007 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in East Hanover, New Jersey.

SBA Loan Borrower

RELAX THE BACK
EAST HANOVER, NJ 07936

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

2/23/2007

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Relax The Back Store franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in East Hanover NJ, you ought to talk with a local East Hanover SBA lender or talk with an out-of-area SBA lender that has previously loaned money to East Hanover businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Valley National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Relax The Back Corporation

Business Line of Credit

SBA Participating Banks in North Plainfield, New Jersey

Getting an SBA Loan in New Jersey