Business Loan from Sun National Bank Given to Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Company

Sun National Bank 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.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Sun National Bank, out of Vineland, New Jersey. The loan was granted and they received $1,575,000 to help grow their Princeton, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
PRINCETON, NJ 08540

SBA Loan Lender

SUN NATIONAL BANK
226 LANDIS AVE
VINELAND, NJ 08360

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

Loan Approval Date

5/18/2006

Loan Approval Gross Amount

$1,575,000

Loan Approval from the SBA

Of the total $1,575,000 loan amount, the SBA guaranteed $1,181,250.

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 48 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 48 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Friends and Family

Best Vineland, New Jersey Banks for Small Business

New Jersey SBA Bank Lenders