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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Machine Shops Loan | ||||
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North Plainfield Lenders
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North Plainfield, New Jersey Bank Gives SBA Loan to Machine Shops CompanyThinking about meeting with a North Plainfield, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a North Plainfield bank, that was approved by the SBA. Applying for an SBA loan with Valley National Bank worked out well for our friends at one local company in Lambertville, New Jersey. The business was able to get an SBA loan for $341,000. Great job! SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender VALLEY NATIONAL 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 332710 - Machine Shops Loan Approval Date 12/28/2001 Loan Approval Gross Amount $341,000 Loan Approval from the SBA Of the total $341,000 loan amount, the SBA guaranteed $255,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Banking Deregulation's Effects on Entrepreneurship SBA Banks in North Plainfield, New Jersey
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