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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Sports And Recreation Instruction Loan | ||||
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How to Get a Commercial Loan from Valley National Bank
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Valley National Bank SBA Loan to Sports And Recreation Instruction CompanyAn SBA loan from Valley National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sparta (census Name Lake Mohaw, New Jersey business owner got a $648,000 loan. Getting a small business loan in Sparta (census Name Lake Mohaw, New Jersey was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Valley National Bank, operating out of North Plainfield, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION SBA Loan Lender VALLEY NATIONAL BANK 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 611620 - Sports and Recreation Instruction Loan Approval Date 3/2/2001 Loan Approval Gross Amount $648,000 Loan Approval from the SBA Of the total $648,000 loan amount, the SBA guaranteed $486,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business If you want money for new small business in Sparta (census Name Lake Mohaw NJ, you ought to talk with a local Sparta (census Name Lake Mohaw SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sparta (census Name Lake Mohaw businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Valley National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Borrowing Money from Friends and Family Find an SBA Lender in North Plainfield, New Jersey
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