How to Get a Loan for Fruit and Vegetable Markets

With these business loans for fruit and vegetable markets, the SBA guarantees the lender that the loan will be repaid. This fruit and vegetable markets loan for $7,000 was given to a Pennsylvania entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $7,000 from Bnb Bank, National Association. The SBA made the loan possible by guaranteeing $3,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE MARKETS
PHILADELPHIA, PA 19139

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445230 - Fruit and Vegetable Markets

Loan Approval Date

12/15/2006

Loan Approval Gross Amount

$7,000

Loan Approval from the SBA

Of the total $7,000 loan amount, the SBA guaranteed $3,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $7,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Fort Lee, New Jersey

New Jersey SBA Bank Lenders