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May 12, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Ramsey, Business Loans > Commerce Bank/north Ramsey Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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I Need a Loan in Clifton, New Jersey
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Coin-Operated Laundries and Drycleaners SBA LoansWith these SBA loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $300,000 was given to a New Jersey entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clifton, New Jersey was able to borrow $300,000 from Commerce Bank/north. The SBA made the loan possible by guaranteeing $225,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender COMMERCE BANK/NORTH This SBA 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 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 6/25/2001 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank/north so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in Ramsey, New Jersey
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