Woodbury, New Jersey Bank Lends Money to Books, Periodicals, And Newspapers Company in Gloucester City, New Jersey

A Woodbury, New Jersey SBA loan can be yours. Learn how a business got a $108,800 business loan from this New Jersey bank.

This loan to a local firm is a good example of an SBA loan. The Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Jersey entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: BOOKS, PERIODICALS, AND NEWSPAPERS
GLOUCESTER CITY, NJ 08030

SBA Loan Lender

THE BANK
100 PARK AVE
WOODBURY, NJ 08096

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5192 - Books, Periodicals, and Newspapers

NAICS Code

422920 - Book, Periodical, and Newspaper Wholesalers

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$108,800

Loan Approval from the SBA

Of the total $108,800 loan amount, the SBA guaranteed $92,480.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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