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December 25, 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 > General Automotive Repair Loan | ||||
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Valley National Bank Business Loans
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How to Get a Loan for General Automotive RepairLooking for business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $145,000 general automotive repair loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Linden, New Jersey was able to borrow $145,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $123,250 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender VALLEY NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/17/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Valley National Bank 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. Related Links: Banks in North Plainfield, New Jersey
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