Business Loan from Columbia Bank Given to Conveyor And Conveying Equipment Manufacturing Company

An SBA loan from Columbia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edison, New Jersey business owner got a $750,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Columbia Bank, out of Paramus, New Jersey. The loan was granted and they received $750,000 to help grow their Edison, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: CONVEYOR AND CONVEYING EQUIPMENT MANUFACTURING
EDISON, NJ 08817

SBA Loan Lender

COLUMBIA BANK
RTE 4 EAST, STE 304, BERGEN M
PARAMUS, NJ 07652

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

333922 - Conveyor and Conveying Equipment Manufacturing

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 40 employees. The loan application indicated that the loan would help retain 40 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $750,000 loan. Remember, where there is a will, there is a way!

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:

Business Line of Credit

Good Banks for Small Business in Paramus, New Jersey

SBA New Jersey Banks