Scotch Plains, New Jersey Entrepreneur Gets a Small Business Loan

Searching for a New Jersey business loan? This New Jersey entrepreneur got a business loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

Getting a small business loan in Scotch Plains, New Jersey was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
SCOTCH PLAINS, NJ 07076

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

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

SIC Code

5999 - Retail Stores

Loan Approval Date

6/15/2000

Loan Approval Gross Amount

$30,400

Loan Approval from the SBA

Of the total $30,400 loan amount, the SBA guaranteed $15,200.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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