Runnemede, New Jersey Business Gets SBA-Guaranteed Funding from The Bank

An SBA loan from The Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Runnemede, New Jersey business owner got a $282,750 loan.

This small firm knew how to go about getting a business bank loan. Based in Runnemede, New Jersey, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was The Bank, based in Woodbury, New Jersey.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
RUNNEMEDE, NJ 08078

SBA Loan Lender

THE BANK
100 PARK AVE
WOODBURY, NJ 08096

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

3/11/2003

Loan Approval Gross Amount

$282,750

Loan Approval from the SBA

Of the total $282,750 loan amount, the SBA guaranteed $212,063.

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 8 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $282,750 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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