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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Pennington, Business Loans > Hopewell Valley Community Bank Pennington Business Loans > Schools And Instruction Loan | ||||
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Hopewell Valley Community Bank
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SBA Loan from Hopewell Valley Community Bank Helps Schools And Instruction CompanyHopewell Valley Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Hopewell Valley Community Bank, out of Pennington, New Jersey. The loan was granted and they received $40,000 to help grow their Lawrenceville, New Jersey business. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION SBA Loan Lender HOPEWELL VALLEY COMMUNITY BANK 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 611699 - Schools and Instruction Loan Approval Date 7/2/2004 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hopewell Valley Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hopewell Valley Community 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: Where to Get an SBA Loan in Pennington, New Jersey
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