Bank Loans for Confectionery Manufacturing from Purchased Chocolate

With these bank loans for confectionery manufacturing from purchased chocolate, the SBA guarantees the lender that the loan will be repaid. This confectionery manufacturing from purchased chocolate loan for $145,000 was given to a New Jersey entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warren, New Jersey was able to borrow $145,000 from Capital One. The SBA made the loan possible by guaranteeing $123,250 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: CANDY, NUT, AND CONFECTIONERY STORES
WARREN, NJ 07059

SBA Loan Lender

CAPITAL ONE
35 JOURNAL SQ
JERSEY CITY, NJ 07306

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5441 - Candy, Nut, and Confectionery Stores

NAICS Code

311330 - Confectionery Manufacturing from Purchased Chocolate

Loan Approval Date

7/26/2001

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

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. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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