SBA Loan from Woori America Bank Helps Service Establishment Equipment And Supplies Merchant Wholesalers Company

An SBA loan from Woori America Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Teterboro, New Jersey business owner got a $200,000 loan.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Woori America Bank, out of Fort Lee, New Jersey. The loan was granted and they received $200,000 to help grow their Teterboro, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
TETERBORO, NJ 07608

SBA Loan Lender

WOORI AMERICA BANK
183 MAIN ST
FORT LEE, NJ 07024

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

423850 - Service Establishment Equipment and Supplies Merchant Wholesalers

Loan Approval Date

5/7/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Woori America Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Woori America Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Fort Lee, New Jersey

New Jersey SBA 7A Lenders