Construction Material Merchant Wholesalers Loans

With these loans for construction material merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This construction material merchant wholesalers loan for $100,000 was given to a New Jersey entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Englewood, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Woori America Bank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
ENGLEWOOD, NJ 07631

SBA Loan Lender

WOORI AMERICA BANK
1250 BROADWAY & 32ND ST
NEW YORK CITY, NY 10001

This lender provides SBA guaranteed 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

423390 - Construction Material Merchant Wholesalers

Loan Approval Date

3/24/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 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 only one employee. The loan application indicated that the loan would help generate 5 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Woori America Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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