Barone Steel Fabricators, Inc.
Barone Steel Fabricators, Inc. is a structural steel and precast concrete contractor in Newark, NJ, classified under NAICS code 238120. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $4,931,000, approved on October 30, 2024, through Northfield Bank and the Empire State Certified Development Corporation. The loan is associated with 20 jobs.
SBA 504 loan, approved Oct 30, 2024
$4,931,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $4,931,000
- Bank portion
- $6,793,711
- Estimated project size
- $13,027,457 (estimated)
- Estimated owner equity
- $1,302,746 (estimated, about 10% of the project)
- Bank lender
- Northfield Bank, Woodbridge, NJ
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 30, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 16, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 238120, Structural Steel and Precast Concrete Contractors
- Project location
- Essex County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-8
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Average expansion loan in Structural Steel and Precast Concrete Contractors: $2,672,667.
- Average expansion loan in New Jersey: $2,533,058.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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