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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Sports And Recreation Instruction Loan | ||||
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SBA 7A Banks That Lend to New Jersey Small Businesses
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Middletown, New Jersey Entrepreneur Gets a Small Business LoanSmall business loans in New Jersey are tough to come by these days. We take a look at one New Jersey small business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Middletown, New Jersey was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Cathay Bank. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION SBA Loan Lender CATHAY 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 611620 - Sports and Recreation Instruction Loan Approval Date 7/25/2007 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $32,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Middletown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Realistic Debt Financing Options SBA 7A Lenders in Los Angeles, California
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