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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Clothing Stores Loan | ||||
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How to Get SBA Loans in Newark, New Jersey
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Financing for Clothing StoresWith these commercial loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $50,000 was given to a New Jersey entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newark, New Jersey was able to borrow $50,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $25,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender WASHINGTON MUTUAL BANK The lender provided this SBA 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 448190 - Clothing Stores Loan Approval Date 12/10/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Henderson, Nevada
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