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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Outdoor Power Equipment Stores Loan | ||||
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Banks Doing SBA Loans in New Jersey
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North Plainfield, New Jersey Lender Lends Money to Outdoor Power Equipment Stores CompanyGet to know North Plainfield, New Jersey banks that specialize in SBA 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 Stroudsburg, Pennsylvania 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: OUTDOOR POWER EQUIPMENT STORES SBA Loan Lender VALLEY NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444210 - Outdoor Power Equipment Stores Loan Approval Date 12/12/2001 Loan Approval Gross Amount $297,000 Loan Approval from the SBA Of the total $297,000 loan amount, the SBA guaranteed $222,750. 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: SBA 7A Lenders in North Plainfield, New Jersey
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