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November 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Banks Doing SBA Loans in New Jersey
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North Plainfield, New Jersey Bank Lends Money to Nondurable Goods Merchant Wholesalers Company in New York, New YorkFind North Plainfield, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Valley National Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in New York, New York starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Valley National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender VALLEY NATIONAL BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 7/10/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Valley National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in North Plainfield, New Jersey
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