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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Personal Services Loan | ||||
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Valley National Bank Business Loans Edgewater
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Business Loan from Valley National Bank Given to Personal Services CompanyAn SBA loan from Valley National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edgewater, New Jersey business owner got a $125,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Edgewater, New Jersey was able to borrow $125,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $93,750 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender VALLEY NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7299 - Personal Services Loan Approval Date 7/28/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. 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. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Banks in North Plainfield, New Jersey
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