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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Wholesalers Loan | ||||
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Small Business Banks for New York, New York Small Businesses
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Borrowing Money for Jewelry, Watch, Precious Stone, and Precious Metal WholesalersLooking for small business loans for jewelry, watch, precious stone, and precious metal wholesalers? Try the SBA. This $150,000 jewelry, watch, precious stone, and precious metal wholesalers loan was issued by a New Jersey bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bnb Bank, National Association, out of Fort Lee, New Jersey. The loan was granted and they received $150,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL WHOLESALERS SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers Loan Approval Date 5/19/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Role of Business Plan When Raising Money Good Banks for Small Business in Fort Lee, New Jersey
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