North Plainfield, New Jersey Lender Lends Money to Building Material Dealers Company
Want to talk with a North Plainfield, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a North Plainfield bank, that was approved by the SBA.
Applying for an SBA loan with Valley National Bank worked out well for our friends at one local company in South Plainfield, New Jersey. The business was able to get an SBA loan for $130,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: BUILDING MATERIAL DEALERS
SOUTH PLAINFIELD, NJ 07080
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
444190 - Building Material Dealers
Loan Approval Date
10/26/2004
Loan Approval Gross Amount
$130,000
Loan Approval from the SBA
Of the total $130,000 loan amount, the SBA guaranteed $110,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $130,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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