New Jersey SBA Loan Issued to Child Day Care Services Company

Business loans in New Jersey are are few and far betweeen these days. We take a look at one New Jersey business loan, provided by a New Jersey bank, that was approved by the SBA.

This small business, based in Hackettstown, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Skylands Community Bank. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
HACKETTSTOWN, NJ 07840

SBA Loan Lender

SKYLANDS COMMUNITY BANK
176 MOUNTAIN AVE
HACKETTSTOWN, NJ 07840

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Hackettstown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Friends and Family Network

Small Business Banks in Hackettstown, New Jersey

Getting a Business Loan in New Jersey