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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Drinking Places Loan | ||||
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SBA Lender Fort Lee
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Fort Lee, New Jersey Bank Gives SBA Loan to Drinking Places CompanyGet to know Fort Lee, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Bnb Bank, National Association is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Hackensack, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bnb Bank, National Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 8/4/2004 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business If you need business start up money in Hackensack NJ, you ought to talk with a local Hackensack SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hackensack businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Fort Lee, New Jersey
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