Newark, New Jersey Business Gets SBA-Guaranteed Funding from Citibank
Citibank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newark, New Jersey was able to borrow $17,000 from Citibank. The SBA made the loan possible by guaranteeing $8,500 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
NEWARK, NJ 07114
SBA Loan Lender
CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120
The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
5/11/2005
Loan Approval Gross Amount
$17,000
Loan Approval from the SBA
Of the total $17,000 loan amount, the SBA guaranteed $8,500.
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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citibank and they will explain how you can get an SBA loan for your company.
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.
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