New Jersey Entrepreneur Secures Financing to Buy Nhance Revolutionary Wood Renewal Franchise

Need money to purchase a Nhance Revolutionary Wood Renewal franchise? Skylands Community Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Nhance Revolutionary Wood Renewal franchise may simply require a phone call to a local SBA banker. In 2007, Skylands Community Bank issued an SBA franchise loan to an entrepreneur in Succasunna, New Jersey. Because Nhance Revolutionary Wood Renewal was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

EIGHTH MONTH ENTERPRISES LLC
SUCCASUNNA, NJ 07876

SBA Loan Lender

SKYLANDS COMMUNITY BANK
176 MOUNTAIN AVE
HACKETTSTOWN, NJ 07840

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

321114 - Wood Preservation

Loan Approval Date

9/14/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Nhance Revolutionary Wood Renewal franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help create 1 new job.

Next Steps for Getting an SBA Loan

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Loan

Banks in Hackettstown, New Jersey

New Jersey SBA 7A Lenders