Manalapan, NJ Entrepreneur Gets SBA Loan to Buy Jon'Ric At Manalapan Franchise

Borrowing money to buy a Jon'Ric At Manalapan franchise? Sun National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Manalapan, New Jersey and are interested in buying a Jon'Ric At Manalapan franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Sun National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JON'RIC AT MANALAPAN
MANALAPAN, NJ 07726

SBA Loan Lender

SUN NATIONAL BANK
226 LANDIS AVE
VINELAND, NJ 08360

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

4/16/2007

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jon'Ric At Manalapan franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

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Role of Business Plan When Raising Money

SBA 7A Banks in Vineland, New Jersey

Where to Get an SBA Loan New Jersey