Entrepreneur Works With Turnersville, New Jersey Bank to Get an SBA Loan
Want to talk with a Turnersville, New Jersey bank about a business loan? Here's one New Jersey business loan, issued by a Turnersville bank, that was approved by the SBA.
Applying for an SBA loan with Royal Bank America worked out well for our friends at one local company in Ridgefield Park, New Jersey. They got an SBA loan for $580,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: CARPENTRY WORK
RIDGEFIELD PARK, NJ 07660
SBA Loan Lender
ROYAL BANK AMERICA
3501 BLACK HORSE PIKE
TURNERSVILLE, NJ 08012
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1751 - Carpentry Work
NAICS Code
235510 - Carpentry Contractors
Loan Approval Date
6/9/2005
Loan Approval Gross Amount
$580,000
Loan Approval from the SBA
Of the total $580,000 loan amount, the SBA guaranteed $435,000.
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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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 Royal Bank 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.
Related Links:
Choosing VC Firms
Who Lends Money to Small Businesses in Turnersville, New Jersey
New Jersey SBA 7A Lenders