Entrepreneur Works With Fort Lee, New Jersey Bank to Get an SBA Loan
A Fort Lee, New Jersey SBA loan can be yours. Learn how a business got a $200,000 business loan from this New Jersey bank.
This loan to an entrepreneur is a good example of an SBA loan. Bnb Bank, National Association made the loan and the SBA guaranteed a portion of the loan. Many other New Jersey entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
LITTLE FERRY, NJ 07643
SBA Loan Lender
BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024
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
722110 - Full-Service Restaurants
Loan Approval Date
8/26/2004
Loan Approval Gross Amount
$200,000
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $150,000.
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 7 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 7 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $200,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
The Friends and Family Network
Best Banks in Fort Lee, New Jersey
New Jersey SBA 7A Lenders