Services for the Elderly and Persons with Disabilities Loans

Looking for loans for services for the elderly and persons with disabilities? The SBA may be the answer. This $212,500 services for the elderly and persons with disabilities loan was issued by a New Jersey bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with City National Bank - New Jersey, out of Newark, New Jersey. The loan was granted and they received $212,500 to help grow their West Orange, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SOCIAL SERVICES
WEST ORANGE, NJ 07017

SBA Loan Lender

CITY NATIONAL BANK - NEW JERSEY
241 SPRINGFIELD AVE
NEWARK, NJ 07103

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8322 - Individual and Family Social Services

NAICS Code

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

12/19/2003

Loan Approval Gross Amount

$212,500

Loan Approval from the SBA

Of the total $212,500 loan amount, the SBA guaranteed $159,375.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 11 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like City National Bank - New Jersey and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Newark, New Jersey

Where to Get an SBA Loan New Jersey