Entrepreneur Works With North Plainfield, New Jersey Bank to Get an SBA Loan

Get to know North Plainfield, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Valley National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in East Rutherford, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Valley National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SHEET METAL WORK MANUFACTURING
EAST RUTHERFORD, NJ 07073

SBA Loan Lender

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

The lender provided this small 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

332322 - Sheet Metal Work Manufacturing

Loan Approval Date

5/25/2005

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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