Entrepreneur Works With Paramus, New Jersey Bank to Get an SBA Loan

A Paramus, New Jersey small business loan can be yours. Learn how a company got a $50,000 business loan from this New Jersey bank.

This loan to an entrepreneur is a good example of an SBA loan. Columbia Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Jersey entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: METAL SERVICE CENTERS AND METAL MERCHANT WHOLESALERS
SOUTH PLAINFIELD, NJ 07080

SBA Loan Lender

COLUMBIA BANK
RTE 4 EAST, STE 304, BERGEN M
PARAMUS, NJ 07652

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423510 - Metal Service Centers and Metal Merchant Wholesalers

Loan Approval Date

10/25/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in South Plainfield NJ, you ought to talk with a local South Plainfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South Plainfield businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Columbia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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