New Jersey Entrepreneur Secures Financing to Buy Philly Connection Franchise

Need a loan to purchase a Philly Connection franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

Philly Connection franchise loans are available to Wayne, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Valley National Bank, based in North Plainfield, New Jersey, issued an SBA franchise loan for a Philly Connection franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

PHILLY CONNECTION
WAYNE, NJ 07470

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$203,000

Loan Approval from the SBA

Of the total $203,000 loan amount, the SBA guaranteed $152,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Philly Connection franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

Who Lends Money to Small Businesses in North Plainfield, New Jersey

SBA Lenders in New Jersey