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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Paramus, Business Loans > Columbia Bank Paramus Business Loans > Pharmacies And Drug Stores Loan | ||||
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Columbia Bank
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Emerson, New Jersey Business Gets SBA-Guaranteed Funding from Columbia BankColumbia Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Emerson, New Jersey was able to borrow $150,000 from Columbia Bank. The SBA made the loan possible by guaranteeing $75,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: PHARMACIES AND DRUG STORES SBA Loan Lender COLUMBIA BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 7/6/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Columbia Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Columbia Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks in Paramus, New Jersey
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