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April 30, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Limited-Service Restaurants Loan | ||||
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Commerce Bank Business Loans
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Loans for Limited-Service RestaurantsLooking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 limited-service restaurants loan was issued by a Pennsylvania bank. Getting a small business loan in Orlando, Florida was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Philadelphia, Pennsylvania. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender COMMERCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/16/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 application for the borrower indicated that the loan would help generate 8 new jobs and retain 2 existing jobs. 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Small Bank Loans in Philadelphia, Pennsylvania
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