Saddle Brook, New Jersey Bank Lends Money to Grocery Stores Company in South Plainfield, New Jersey

Find Saddle Brook, New Jersey banks that specialize in business loans and know how to work with entrepreneurs. Td Banknorth is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in South Plainfield, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Td Banknorth. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
SOUTH PLAINFIELD, NJ 07080

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$775,000

Loan Approval from the SBA

Of the total $775,000 loan amount, the SBA guaranteed $581,250.

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

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Line of Credit

SBA Banks in Saddle Brook, New Jersey

SBA Lenders in New Jersey