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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New Brunswick, Business Loans > New Millennium Bank New Brunswick Business Loans > Prepackaged Software Loan | ||||
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Best Banks for Palisades Park, New Jersey Small Business Owners
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Software Publishers Commercial LoansWith these commercial loans for software publishers, the SBA guarantees the lender that the loan will be repaid. This software publishers loan for $150,000 was given to a New Jersey entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palisades Park, New Jersey was able to borrow $150,000 from New Millennium Bank. The SBA made the loan possible by guaranteeing $127,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: PREPACKAGED SOFTWARE SBA Loan Lender NEW MILLENNIUM BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7372 - Prepackaged Software NAICS Code 511210 - Software Publishers Loan Approval Date 1/2/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from New Millennium Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 7A Banks for New Brunswick, New Jersey Loans
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