Rockaway, New Jersey Entrepreneur Gets a Bank Loan

Would a New Jersey bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New York bank, which offers SBA loans to New Jersey entrepreneurs.

Getting a small business loan in Rockaway, New Jersey was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Shinhan Bank America. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: NAIL SALONS
ROCKAWAY, NJ 07801

SBA Loan Lender

SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812113 - Nail Salons

Loan Approval Date

4/6/2006

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Rockaway NJ, you ought to talk with a local Rockaway SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rockaway businesses.

This SBA loan was for $180,000. How would you spend $180,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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