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December 25, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Gladstone, Business Loans > Peapack-Gladstone Bank Gladstone Business Loans > Special Dies And Tools, Die Sets, Jigs And Fixture Loan | ||||
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New Jersey Small Business Loans from Peapack-Gladstone Bank
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SBA Loan from Peapack-Gladstone Bank Helps Special Dies And Tools, Die Sets, Jigs And Fixture CompanyPeapack-Gladstone Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hillsborough, New Jersey was able to borrow $250,000 from Peapack-Gladstone Bank. The SBA made the loan possible by guaranteeing $187,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE SBA Loan Lender PEAPACK-GLADSTONE BANK This lender issued this 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 3544 - Special Dies and Tools, Die Sets, Jigs and Fixture NAICS Code 333511 - Industrial Mold Manufacturing Loan Approval Date 11/4/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 13 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Best Banks in Gladstone, New Jersey
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