New Jersey Entrepreneur Secures Financing to Buy Management Recruiters Franchise

Borrowing money to invest in a Management Recruiters franchise? Skylands Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Management Recruiters franchise? If so, here's a 2004 SBA franchise loan that you should know about. Skylands Community Bank was the lender and the entrepreneur was based in Parsippany, New Jersey.

SBA Loan Borrower

MANAGEMENT RECRUITERS INTERNAT
PARSIPPANY, NJ 07054

SBA Loan Lender

SKYLANDS COMMUNITY BANK
176 MOUNTAIN AVE
HACKETTSTOWN, NJ 07840

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7361 - Employment Agencies

NAICS Code

561310 -

Loan Approval Date

2/17/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Management Recruiters franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Management Recruiters International, Inc.

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New Jersey SBA Bank Lenders