Bnb Bank, National Association SBA Loan to Beauty Salons Company

Bnb Bank, National Association has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bnb Bank, National Association, out of Fort Lee, New Jersey. The loan was granted and they received $60,000 to help grow their Rutherford, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
RUTHERFORD, NJ 07070

SBA Loan Lender

BNB BANK, NATIONAL ASSOCIATION
2024 CENTER AVE
FORT LEE, NJ 07024

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

812112 - Beauty Salons

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $60,000. How would you spend $60,000 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.

Related Links:

Small Business Loan

SBA Participating Banks in Fort Lee, New Jersey

New Jersey SBA 7A Lenders