Commercial Loans for Broadwoven Fabric Finishing Mills

With these commercial loans for broadwoven fabric finishing mills, the SBA guarantees the lender that the loan will be repaid. This broadwoven fabric finishing mills loan for $150,000 was given to a New Jersey entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Paterson, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Td Banknorth, based in Saddle Brook, New Jersey.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
PATERSON, NJ 07524

SBA Loan Lender

TD BANKNORTH
200 FLORAL LANE
SADDLE BROOK, NJ 07663

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

313311 - Broadwoven Fabric Finishing Mills

Loan Approval Date

7/9/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 150 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Understanding Dilution

SBA Approved Banks in Saddle Brook, New Jersey

SBA Lenders in New Jersey