Westfield, NJ Entrepreneur Gets SBA Loan to Buy Hobbytown Usa Franchise

Borrowing money to buy a Hobbytown Usa franchise? The Town Bank has a history of making these loans and they are guaranteed by the SBA.

Hobbytown Usa franchise loans are available to Westfield, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Town Bank, based in Westfield, New Jersey, issued an SBA franchise loan for a Hobbytown Usa franchise in 2000. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

HOBBYTOWN USA
WESTFIELD, NJ 07090

SBA Loan Lender

THE TOWN BANK
520 SOUTH AVE
WESTFIELD, NJ 07090

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

8/16/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

HobbyTown USA

Getting a Small Business Loan

Best Banks in Westfield, New Jersey

SBA Lenders in New Jersey