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January 22, 2025 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Hackettstown, Business Loans > Skylands Community Bank Hackettstown Business Loans > Top And Body Repair And Paint Shops Loan | ||||
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New Jersey Bank SBA Loans
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Entrepreneur Works With Hackettstown, New Jersey Bank to Get an SBA LoanThinking about meeting with a Hackettstown, New Jersey bank about a business loan? Here's one New Jersey business loan, issued by a Hackettstown bank, that was approved by the SBA. Applying for an SBA loan with Skylands Community Bank worked out well for our friends at one local firm in Hackettstown, New Jersey. They got an SBA loan for $153,000. Awesome! SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender SKYLANDS COMMUNITY BANK This lender issued this loan under the 7A SBA 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 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 8/16/2000 Loan Approval Gross Amount $153,000 Loan Approval from the SBA Of the total $153,000 loan amount, the SBA guaranteed $114,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Skylands Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Role of Business Plan When Raising Money Banks in Hackettstown, New Jersey
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