SBA Loan from Valley National Bank Helps Apparel Accessories And Other Apparel Manufacturing Company
Valley National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Union (township Of), New Jersey was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Valley National Bank, operating out of North Plainfield, New Jersey. Here are the details on this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
UNION (TOWNSHIP OF), NJ 07083
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
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
315999 - Apparel Accessories and Other Apparel Manufacturing
Loan Approval Date
7/21/2003
Loan Approval Gross Amount
$432,000
Loan Approval from the SBA
Of the total $432,000 loan amount, the SBA guaranteed $324,000.
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 10 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 10 existing jobs.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
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:
Microlending as a Small Business Funding Source
SBA Approved Banks in North Plainfield, New Jersey
SBA Lenders in New Jersey