Bank Of America SBA Loan to Special Warehousing And Storage Company
Looking to get a New Jersey small business loan? Here's one New Jersey business loan that was approved by the SBA.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Newark Elizabeth-Port Aut, New Jersey was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIAL WAREHOUSING AND STORAGE
PORT NEWARK ELIZABETH-PORT AUT, NJ 07002
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
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.
SIC Code
4226 - Special Warehousing and Storage
Loan Approval Date
5/19/2000
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 60 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 70 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.
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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