Motor Vehicle Brake System Manufacturing Loans

Looking for loans for motor vehicle brake system manufacturing? The SBA may be the answer. This $132,000 motor vehicle brake system manufacturing loan was issued by a New Jersey bank.

Getting a small business loan in Glassboro, New Jersey was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Bank, operating out of Woodbury, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: ASBESTOS PRODUCTS
GLASSBORO, NJ 08028

SBA Loan Lender

THE BANK
100 PARK AVE
WOODBURY, NJ 08096

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3292 - Asbestos Products

NAICS Code

336340 - Motor Vehicle Brake System Manufacturing

Loan Approval Date

2/14/2003

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $112,200.

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 15 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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 The 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.

Related Links:

Strategic Investors

Small Bank Loans in Woodbury, New Jersey

Getting an SBA Loan in New Jersey