Local Business Gets a New Jersey Business Loan

Would a New Jersey business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to New Jersey entrepreneurs.

You can learn something about getting a small business loan in Secaucus, New Jersey by studying this loan to a local business, made back in 2004. Banks like Metropolitan National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE
SECAUCUS, NJ 07094

SBA Loan Lender

METROPOLITAN NATIONAL BANK
99 PARK AVE, 4TH FL
NEW YORK CITY, NY 10016

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5045 - Computers, Peripherals, and Software

NAICS Code

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

8/18/2004

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

The Art of Bootstrapping

Where to Get an SBA Loan in New York City, New York

SBA Lenders in New York