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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New Brunswick, Business Loans > New Millennium Bank New Brunswick Business Loans > Personal Services Loan | ||||
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Business Loans from New Millennium Bank
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Hoboken, New Jersey Business Gets SBA-Guaranteed Funding from New Millennium BankAn SBA loan from New Millennium Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hoboken, New Jersey business owner got a $130,000 loan. This small firm knew how to go about getting a business bank loan. Based in Hoboken, New Jersey, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was New Millennium Bank, based in New Brunswick, New Jersey. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender NEW MILLENNIUM BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 3/29/2006 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into New Millennium Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in New Brunswick, New Jersey
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