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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Drinking Places Loan | ||||
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Business Loans for Mount Holly Businesses
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Drinking Places Business LoansWith these business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $100,000 was given to a New Jersey entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Holly, New Jersey was able to borrow $100,000 from Bnb Bank, National Association. The SBA made the loan possible by guaranteeing $50,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 722410 - Drinking Places Loan Approval Date 5/20/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, you control your own destiny. 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: Advice on Getting a Small Business Loan Find an SBA Lender in New Jersey
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