North Wildwood, New Jersey Entrepreneur Gets a Bank Loan
New JerseySmall business loans are available to New Jersey small business owners through the SBA. In this case, a New York bank provides the loan.
Getting a small business loan in North Wildwood, New Jersey was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
NORTH WILDWOOD, NJ 08260
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
12/5/2000
Loan Approval Gross Amount
$562,500
Loan Approval from the SBA
Of the total $562,500 loan amount, the SBA guaranteed $421,875.
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 2 employees. The loan application indicated that the funding would help generate 2 new jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $562,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
How to Raise Money
SBA Approved Banks in New York, New York
SBA New York Lenders