SBA Loan from Bergen Comm. Bank A Division - Helps Eating Places Company

An SBA loan from Bergen Comm. Bank A Division - typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hackensack, New Jersey business owner got a $90,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hackensack, New Jersey was able to borrow $90,000 from Bergen Comm. Bank A Division -. The SBA made the loan possible by guaranteeing $67,500 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HACKENSACK, NJ 07601

SBA Loan Lender

BERGEN COMM. BANK A DIVISION -
2 SEARS DR
PARAMUS, NJ 07652

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

8/20/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $67,500.

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 13 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This SBA loan was for $90,000. How would you spend $90,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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