New York City, New York Bank Gives SBA Loan to General Automotive Repair Company
Want to talk with a New York City, New York bank about an SBA loan? Here's one New Jersey business loan, issued by a New York City bank, that was approved by the SBA.
Applying for an SBA loan with Banco Popular North America worked out well for our friends at one local firm in Towaco, New Jersey. The business was able to get an SBA loan for $810,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
TOWACO, NJ 07082
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
6/14/2006
Loan Approval Gross Amount
$810,000
Loan Approval from the SBA
Of the total $810,000 loan amount, the SBA guaranteed $607,500.
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 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
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $810,000 loan. Remember, if it to be, it is up to me!
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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