SBA Loan from Financial Resources Fcu Helps Painting And Wall Covering Company

Financial Resources Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Piscataway, New Jersey was able to borrow $29,500 from Financial Resources Fcu. The SBA made the loan possible by guaranteeing $25,075 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING
PISCATAWAY, NJ 08854

SBA Loan Lender

FINANCIAL RESOURCES FCU
520 RTE 22 EAST
BRIDGEWATER, NJ 08807

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235210 - Painting and Wall Covering

Loan Approval Date

8/5/2005

Loan Approval Gross Amount

$29,500

Loan Approval from the SBA

Of the total $29,500 loan amount, the SBA guaranteed $25,075.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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