Loans for Short Line Railroads

Looking for loans for short line railroads? The SBA may be the answer. This $50,000 short line railroads loan was issued by a New Jersey bank.

This company knew how to go about getting a business bank loan. Based in South Hackensack (township Of), New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First State Bank, based in Cranford, New Jersey.

SBA Loan Borrower

COMPANY TYPE: SHORT LINE RAILROADS
SOUTH HACKENSACK (TOWNSHIP OF), NJ 07606

SBA Loan Lender

FIRST STATE BANK
16 COMMERCE DR
CRANFORD, NJ 07016

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

482112 - Short Line Railroads

Loan Approval Date

5/17/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First State Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding From a Venture Capitalist

Find an SBA Lender in Cranford, New Jersey

SBA New Jersey Banks