Getting an SBA Loan for Investment Advice

With these SBA loans for investment advice, the SBA guarantees the lender that the loan will be repaid. This investment advice loan for $98,500 was given to a New Jersey entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Bergen, New Jersey was able to borrow $98,500 from Td Banknorth. The SBA made the loan possible by guaranteeing $49,250 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: INVESTMENT ADVICE
North Bergen, NJ 07047

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

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

523930 - Investment Advice

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$98,500

Loan Approval from the SBA

Of the total $98,500 loan amount, the SBA guaranteed $49,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Td Banknorth that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Who Lends Money to Small Businesses in Saddle Brook, New Jersey

SBA Participating Banks in New Jersey