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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Warren (warrenville) Business Loan from Bnb Bank, National Association
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Warren (warrenville), New Jersey Business Gets SBA-Guaranteed Funding from Bnb Bank, National AssociationBnb Bank, National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warren (warrenville), New Jersey was able to borrow $10,000 from Bnb Bank, National Association. The SBA made the loan possible by guaranteeing $5,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 2/17/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bnb Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bnb Bank, National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in Fort Lee, New Jersey
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