Firm Gets a New Jersey Small Business Loan

Small business loans in New Jersey are hard to find these days. We take a look at one New Jersey small business loan, provided by a New Jersey bank, that was approved by the SBA.

Getting a small business loan in Pennington, New Jersey was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hopewell Valley Community Bank. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PENNINGTON, NJ 08534

SBA Loan Lender

HOPEWELL VALLEY COMMUNITY BANK
4 RTE 31 SOUTH
PENNINGTON, NJ 08534

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/17/2003

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $55,000 loan. Remember, if it to be, it is up to me!

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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