The Town Bank SBA Loan to Automotive Services Company

Searching for a New Jersey SBA loan? Here's one New Jersey business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Elizabeth, New Jersey, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was The Town Bank, based in Westfield, New Jersey.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
ELIZABETH, NJ 07201

SBA Loan Lender

THE TOWN BANK
520 SOUTH AVE
WESTFIELD, NJ 07090

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Town Bank and they will explain how you can get an SBA loan for your company.

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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