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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Mental Health Practitioners Loan | ||||
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Who Can Get a Business Loan in Parsippany, New Jersey?
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Mental Health Practitioners Small Business LoansWith these small business loans for mental health practitioners, the SBA guarantees the lender that the loan will be repaid. This mental health practitioners loan for $355,000 was given to a New Jersey entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Parsippany, New Jersey was able to borrow $355,000 from Newtek Small Business Finance Inc.. The SBA made the loan possible by guaranteeing $266,250 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: MENTAL HEALTH PRACTITIONERS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621330 - Mental Health Practitioners Loan Approval Date 11/14/2007 Loan Approval Gross Amount $355,000 Loan Approval from the SBA Of the total $355,000 loan amount, the SBA guaranteed $266,250. 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 10 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Small Business Banks in New York, New York
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