New Jersey Small Business Loan Issued to Beauty Shops 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 Woodbury Heights, New Jersey was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Bank. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WOODBURY HEIGHTS, NJ 08097

SBA Loan Lender

THE BANK
303 EGG HARBOR RD
SEWELL, NJ 08080

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$184,500

Loan Approval from the SBA

Of the total $184,500 loan amount, the SBA guaranteed $138,375.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

How Equity Dilution Works

Best Banks in Sewell, New Jersey

Getting an SBA Loan in New Jersey