Newark, New Jersey Business Gets SBA-Guaranteed Funding from Bank Of America

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newark, New Jersey business owner got a $16,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Newark, New Jersey, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL PROPERTY MANAGERS
NEWARK, NJ 07112

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

531311 - Residential Property Managers

Loan Approval Date

9/12/2007

Loan Approval Gross Amount

$16,000

Loan Approval from the SBA

Of the total $16,000 loan amount, the SBA guaranteed $8,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 application for the borrower indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Newark NJ, you ought to talk with a local Newark SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newark businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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