Business Loan from Shore Community Bank Given to Residential Care Company

An SBA loan from Shore Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Freehold, New Jersey business owner got a $1,440,000 loan.

Getting a small business loan in Freehold, New Jersey was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Shore Community Bank, operating out of Toms River, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
FREEHOLD, NJ 07728

SBA Loan Lender

SHORE COMMUNITY BANK
201 MAIN ST
TOMS RIVER, NJ 08753

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

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

11/20/2006

Loan Approval Gross Amount

$1,440,000

Loan Approval from the SBA

Of the total $1,440,000 loan amount, the SBA guaranteed $1,080,000.

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 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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