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

Want to talk with a Newark, New Jersey bank about a business loan? Here's one Rhode Island business loan, issued by a Newark bank, that was approved by the SBA.

Applying for an SBA loan with Millennium Bcpbank worked out well for our friends at one local firm in Tiverton, Rhode Island. The business was able to get an SBA loan for $25,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
TIVERTON, RI 02878

SBA Loan Lender

MILLENNIUM BCPBANK
255 LAFAYETTE ST
NEWARK, NJ 07105

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

238910 - Site Preparation Contractors

Loan Approval Date

9/27/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Millennium Bcpbank 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.

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