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December 24, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Vineland, Business Loans > Sun National Bank Vineland Business Loans > Caterers Loan | ||||
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Matawan, New Jersey Bank for SBA Loans
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Where to Get Capital for CaterersWith these small business loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $350,000 was given to a New Jersey entrepreneur in 2005. Getting a small business loan in Matawan, New Jersey was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Sun National Bank, operating out of Vineland, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CATERERS SBA Loan Lender SUN NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722320 - Caterers Loan Approval Date 12/21/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 3 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sun 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: Obtaining Funding - Getting Venture Capital
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