Maple Shade (township Of), New Jersey Entrepreneur Gets a Business Loan

Would a New Jersey business loan help your company expand? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs.

This small business, based in Maple Shade (township Of), New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bnb Bank, National Association. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MAPLE SHADE (TOWNSHIP OF), NJ 08816

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722110 - Full-Service Restaurants

Loan Approval Date

5/16/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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