Business Loan from Valley National Bank Given to Funeral Homes And Funeral Services Company

An SBA loan from Valley National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wharton, New Jersey business owner got a $100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Wharton, New Jersey, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Valley National Bank, based in North Plainfield, New Jersey.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
WHARTON, NJ 07885

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

5/31/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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

If you need money to start business in Wharton NJ, you ought to talk with a local Wharton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wharton businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Art of Bootstrapping

SBA Banks in North Plainfield, New Jersey

SBA New Jersey Lenders