Hamilton, New Jersey Business Gets SBA-Guaranteed Funding from The Bank

The Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Hamilton, New Jersey was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from The Bank, operating out of Woodbury, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
Hamilton, NJ 08690

SBA Loan Lender

THE BANK
100 PARK AVE
WOODBURY, NJ 08096

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

9/27/2007

Loan Approval Gross Amount

$760,000

Loan Approval from the SBA

Of the total $760,000 loan amount, the SBA guaranteed $570,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 45 employees. This SBA loan request indicated that the loan would help retain 45 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Cash Advances

SBA Participating Banks in Woodbury, New Jersey

New Jersey SBA 7A Lenders