Durable Goods Merchant Wholesalers Loans

Looking for loans for durable goods merchant wholesalers? An SBA loan may be just what you've been looking for. This $300,000 durable goods merchant wholesalers loan was issued by a New York bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Shinhan Bank America, out of New York City, New York. The loan was granted and they received $300,000 to help grow their Hackensack, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
Hackensack, NJ 07601

SBA Loan Lender

SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

2/20/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Shinhan Bank America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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