Where to Get Capital for Farm Supplies Merchant Wholesalers

Looking for small business loans for farm supplies merchant wholesalers? The SBA may be the answer. This $1,398,400 farm supplies merchant wholesalers loan was issued by an Illinois bank.

Getting a small business loan in Lafayette, New Jersey was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America, operating out of Rosemont, Illinois. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS
LAFAYETTE, NJ 07848

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
9600 W BRYN MAWR
ROSEMONT, IL 60018

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424910 - Farm Supplies Merchant Wholesalers

Loan Approval Date

6/26/2007

Loan Approval Gross Amount

$1,398,400

Loan Approval from the SBA

Of the total $1,398,400 loan amount, the SBA guaranteed $1,048,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Popular North America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Startup Funding Tip

Small Bank Loans in Rosemont, Illinois

SBA Illinois Banks