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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Newton, Business Loans > Lakeland Bank Newton Business Loans > Specialty Food Stores Loan | ||||
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Lakeland Bank
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Lakeland Bank SBA Loan to Specialty Food Stores CompanyAn SBA loan from Lakeland Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newton, New Jersey business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newton, New Jersey was able to borrow $150,000 from Lakeland Bank. The SBA made the loan possible by guaranteeing $75,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender LAKELAND BANK The lender provided this 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 445299 - Specialty Food Stores Loan Approval Date 9/24/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Newton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Newton, New Jersey
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