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May 18, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Michael Mcnally Loan | ||||
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Clifton, New Jersey Bank for SBA Loans
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Loan to Buy Matco Tools rent Tools Franchise Issued By Commerce BankNeed money to purchase a Matco Tools rent Tools franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Clifton, New Jersey needed money to invest in a Matco Tools rent Tools franchise back in 2004. Commerce Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower MICHAEL MCNALLY SBA Loan Lender COMMERCE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 10/25/2004 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $73,950. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This SBA loan was for $87,000. How would you spend $87,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Philadelphia, Pennsylvania
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