Get an SBA Loan for Retail Bakeries

With these bank loans for retail bakeries, the SBA guarantees the lender that the loan will be repaid. This retail bakeries loan for $100,000 was given to a New Jersey entrepreneur in 2006.

Getting a small business loan in Palisades Park, New Jersey was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of Las Vegas, Nevada. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
PALISADES PARK, NJ 07650

SBA Loan Lender

CITIBANK
3900 PARADISE RD, STE 127
LAS VEGAS, NV 89109

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

311811 - Retail Bakeries

Loan Approval Date

12/19/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Citibank 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.

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