Pennington, New Jersey Bank Lends Money to Full-Service Restaurants Company in Verona, New Jersey

Get to know Pennington, New Jersey banks that specialize in SBA loans and know how to work with entrepreneurs. Hopewell Valley Community Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Verona, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Hopewell Valley Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
VERONA, NJ 07044

SBA Loan Lender

HOPEWELL VALLEY COMMUNITY BANK
4 RTE 31 SOUTH
PENNINGTON, NJ 08534

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/6/2005

Loan Approval Gross Amount

$730,000

Loan Approval from the SBA

Of the total $730,000 loan amount, the SBA guaranteed $547,500.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Verona or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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