Bank Of America Gives Business Loan to Personal Services Company

Would a New Jersey SBA loan help your business get to the next level? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs.

Getting a small business loan in Westfield, New Jersey was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
WESTFIELD, NJ 07090

SBA Loan Lender

BANK OF AMERICA
210 MAIN ST
HACKENSACK, NJ 07601

This lender provides SBA 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.

SIC Code

7299 - Personal Services

NAICS Code

812990 - Personal Services

Loan Approval Date

1/28/2000

Loan Approval Gross Amount

$431,000

Loan Approval from the SBA

Of the total $431,000 loan amount, the SBA guaranteed $323,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Investor Turnoffs

SBA Participating Banks in Hackensack, New Jersey

Getting a Business Loan in New Jersey