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November 21, 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 > Supermarkets And Grocery Stores Loan | ||||
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Business Loans for New York Small Businesses
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Supermarkets and Grocery Stores Small Business LoansLooking for small business loans for supermarkets and grocery stores? Talk to a banker who works with the SBA. This $70,000 supermarkets and grocery stores loan was issued by a New Jersey bank. This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Valley National Bank, out of North Plainfield, New Jersey. The loan was granted and they received $70,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender VALLEY NATIONAL BANK This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 11/18/2005 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: A Company That Helps Entrepreneurs Find an SBA Lender in North Plainfield, New Jersey
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