Commercial Loans for Video Tape and Disc Rental

With these commercial loans for video tape and disc rental, the SBA guarantees the lender that the loan will be repaid. This video tape and disc rental loan for $65,000 was given to a New Jersey entrepreneur in 2000.

Getting a small business loan in North Plainfield, New Jersey was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Hackensack, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
NORTH PLAINFIELD, NJ 08876

SBA Loan Lender

BANK OF AMERICA
210 MAIN ST
HACKENSACK, NJ 07601

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

3/20/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $52,000.

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 only one employee. This SBA loan request indicated that the funding would help create 4 new jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Find an SBA Lender in Hackensack, New Jersey

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