Small Business Loans for Fabric Coating Mills

With these small business loans for fabric coating mills, the SBA guarantees the lender that the loan will be repaid. This fabric coating mills loan for $425,000 was given to a New Jersey entrepreneur in 2001.

This company 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 2001. The lending bank was Ups Capital Business Credit, based in Windsor, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FABRIC COATING MILLS
PATERSON, NJ 07524

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313320 - Fabric Coating Mills

Loan Approval Date

3/9/2001

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 78 employees. The loan application indicated that the loan would help retain 78 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Ups Capital Business Credit 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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