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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Warwick, Business Loans > Home Loan Invest Bank F.S.B. Warwick Business Loans > Used Car Dealers Loan | ||||
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SBA 7A Banks for Elizabeth, New Jersey Small Businesses
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Used Car Dealers LoansWith these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $340,000 was given to a New Jersey entrepreneur in 2002. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Home Loan Invest Bank F.S.B., out of Warwick, Rhode Island. The loan was granted and they received $340,000 to help grow their Elizabeth, New Jersey business. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender HOME LOAN INVEST BANK F.S.B. This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 5/3/2002 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours 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: Best Banks for Small Business in Warwick, Rhode Island
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