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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Precision Turned Product Manufacturing Loan | ||||
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Trenton, New Jersey Bank for SBA Loans
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Precision Turned Product Manufacturing Business LoansWith these business loans for precision turned product manufacturing, the SBA guarantees the lender that the loan will be repaid. This precision turned product manufacturing loan for $750,000 was given to a New Jersey entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Trenton, New Jersey was able to borrow $750,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $562,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING SBA Loan Lender VALLEY NATIONAL BANK 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 332721 - Precision Turned Product Manufacturing Loan Approval Date 3/22/2004 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 11 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Good Banks for Small Business in North Plainfield, New Jersey Where to Get an SBA Loan New Jersey
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