Where to Get Capital for New Multifamily Housing Construction

With these small business loans for new multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This new multifamily housing construction loan for $150,000 was given to a New Jersey entrepreneur in 2007.

Getting a small business loan in Englewood, New Jersey was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Woori America Bank, operating out of New York City, New York. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION
ENGLEWOOD, NJ 07631

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236116 - New Multifamily Housing Construction

Loan Approval Date

11/15/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Englewood or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Small Bank Loans in New York City, New York

New York SBA 7A Lenders