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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Woodbury, Business Loans > The Bank Woodbury Business Loans > Consumer Goods Rental Loan | ||||
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What Does It Take to Get a Business Loan in Gibbstown (township Name Green, New Jersey?
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Consumer Goods Rental Commercial LoansWith these commercial loans for consumer goods rental, the SBA guarantees the lender that the loan will be repaid. This consumer goods rental loan for $145,000 was given to a New Jersey entrepreneur in 2004. This small business knew how to go about getting a business bank loan. Based in Gibbstown (township Name Green, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Bank, based in Woodbury, New Jersey. SBA Loan Borrower COMPANY TYPE: CONSUMER GOODS RENTAL SBA Loan Lender THE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 532299 - Consumer Goods Rental Loan Approval Date 12/7/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $72,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 22 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The 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: Role of Business Plan When Raising Money SBA 7A Lenders in Woodbury, New Jersey Getting an SBA Loan in New Jersey
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