Valley National Bank Provides SBA Loan to Buy Salad Works Franchise

Borrowing money to purchase a Salad Works franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Salad Works franchise shouldn't be too tough. In 2004, Valley National Bank issued an SBA franchise loan to an entrepreneur in Hoboken, New Jersey. Because Salad Works was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

HOBOKEN SW LLC
HOBOKEN, NJ 07030

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$510,500

Loan Approval from the SBA

Of the total $510,500 loan amount, the SBA guaranteed $382,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Salad Works franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Hoboken NJ, you ought to talk with a local Hoboken SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hoboken businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Saladworks, Inc.

Borrowing Money from Friends and Family

SBA Approved Banks in North Plainfield, New Jersey

Getting an SBA Loan in New Jersey