Financing for Musical Instrument and Supplies Stores

With these loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $440,000 was given to a New Jersey entrepreneur in 2002.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Lakeland Bank, out of Teaneck, New Jersey. The loan was granted and they received $440,000 to help grow their Ho Ho Kus, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
HO HO KUS, NJ 07423

SBA Loan Lender

LAKELAND BANK
417 CEDAR LN
TEANECK, NJ 07666

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

7/18/2002

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

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 11 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $440,000. How would you spend $440,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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