Saddle Brook (township Of), New Jersey Business Gets SBA-Guaranteed Funding from Bank Of America

Bank Of America 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 2003. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $200,000 to help grow their Saddle Brook (township Of), New Jersey business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
SADDLE BROOK (TOWNSHIP OF), NJ 07663

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

9/29/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 14 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 18 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Saddle Brook (township Of) NJ, you ought to talk with a local Saddle Brook (township Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saddle Brook (township Of) businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Credit Evaluation

SBA 7A Banks for Providence, Rhode Island Loans

Where to Get an SBA Loan Rhode Island