Raising Money for Intermediation

With these bank loans for intermediation, the SBA guarantees the lender that the loan will be repaid. This intermediation loan for $144,000 was given to a New Jersey entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Skylands Community Bank, out of Hackettstown, New Jersey. The loan was granted and they received $144,000 to help grow their Newton, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: INTERMEDIATION
NEWTON, NJ 07860

SBA Loan Lender

SKYLANDS COMMUNITY BANK
176 MOUNTAIN AVE
HACKETTSTOWN, NJ 07840

The lender provided this 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

523910 - Intermediation

Loan Approval Date

8/10/2004

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $72,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Investor Turnoffs

Banks in Hackettstown, New Jersey

SBA New Jersey Lenders