Company Gets a New Jersey SBA Loan
Would a New Jersey SBA loan help your business get to the next level? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs.
This business, based in Stone Harbor, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Valley National Bank. We've got the inside scoop on this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
STONE HARBOR, NJ 08247
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
722211 - Limited-Service Restaurants
Loan Approval Date
4/13/2006
Loan Approval Gross Amount
$190,000
Loan Approval from the SBA
Of the total $190,000 loan amount, the SBA guaranteed $142,500.
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. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Valley National Bank and they will explain how you can get an SBA loan for your company.
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:
Advice on Getting a Small Business Loan
Where to Get an SBA Loan in North Plainfield, New Jersey
SBA New Jersey Banks