Newark, New Jersey Lender Lends Money to Child Day Care Services Company

Want to talk with a Newark, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a Newark bank, that was approved by the SBA.

Applying for an SBA loan with City National Bank - New Jersey worked out well for our friends at one local firm in South Orange, New Jersey. They got an SBA loan for $100,000. Great job!

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
SOUTH ORANGE, NJ 07079

SBA Loan Lender

CITY NATIONAL BANK - NEW JERSEY
900 BROAD ST
NEWARK, NJ 07102

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624110 - Child and Youth Services

Loan Approval Date

8/1/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? 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.

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