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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Paramus, Business Loans > Columbia Bank Paramus Business Loans > Ups Store Loan | ||||
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Columbia Bank SBA Franchise Loans
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Loan to Buy UPS Store Franchise Issued By Columbia BankBorrowing money to buy an UPS Store franchise? Columbia 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 an UPS Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Columbia Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower UPS STORE SBA Loan Lender COLUMBIA BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488991 - Packing and Crating Loan Approval Date 3/17/2005 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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