Company Gets a New Jersey Business Loan

Looking to get a New Jersey SBA loan? This New Jersey entrepreneur got an SBA loan, provided by a New Jersey bank that works with the SBA to help small business owners.

This business, based in Hammonton, 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 Sun National Bank. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
HAMMONTON, NJ 08037

SBA Loan Lender

SUN NATIONAL BANK
226 LANDIS AVE
VINELAND, NJ 08360

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

453998 - Store Retailers

Loan Approval Date

7/28/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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:

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Getting an SBA Loan in New Jersey