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January 21, 2025 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Amusement And Recreation Services Loan | ||||
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How to Get SBA Money in Rutherford, New Jersey
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Rutherford, New Jersey Entrepreneur Gets an SBA LoanNew JerseyBank loans are available to New Jersey firms through the SBA. In this case, a Texas bank provides the loan. Getting a small business loan in Rutherford, New Jersey was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Small Business Loan Source LLC. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 611620 - Sports and Recreation Instruction Loan Approval Date 12/13/2004 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan Good Banks for Small Business in Houston, Texas
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