Firm Gets a New Jersey Bank Loan

Small business loans in New Jersey are tough to come by these days. We take a look at one New Jersey small business loan, provided by a Connecticut bank, that was approved by the SBA.

You can learn something about getting a small business loan in Hackensack, New Jersey by studying this loan to a local company, made back in 2000. Banks like Ups Capital Business Credit may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS
HACKENSACK, NJ 07072

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5131 - Piece Goods, Notions, and Other Dry Goods

Loan Approval Date

3/16/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 11 employees. The loan application indicated that the loan would help retain 11 existing jobs.

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

If you are wondering how to raise money for a company 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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