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December 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Cherry Hill, Business Loans > Isn Bank Cherry Hill Business Loans > Hotels And Motels Loan | ||||
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New Jersey SBA 7A Lenders
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Cherry Hill, New Jersey Lender Lends Money to Hotels And Motels CompanyWant to talk with a Cherry Hill, New Jersey bank about a business loan? Here's one New Jersey business loan, issued by a Cherry Hill bank, that was approved by the SBA. Applying for an SBA loan with Isn Bank worked out well for our friends at one local business in Wildwood, New Jersey. They received an SBA loan for $1,105,000. Way to go! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender ISN BANK This lender provides SBA debt financing 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 721110 - Hotels and Motels Loan Approval Date 1/20/2005 Loan Approval Gross Amount $1,105,000 Loan Approval from the SBA Of the total $1,105,000 loan amount, the SBA guaranteed $828,750. 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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Isn Bank 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: SBA Participating Banks in Cherry Hill, New Jersey
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