Growing Company Gets a New Jersey Business Loan

Would a New Jersey bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Pennsylvania bank, which offers SBA loans to New Jersey entrepreneurs.

By giving the right information to Commerce Bank, this Pennington, New Jersey business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
PENNINGTON, NJ 08534

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541710 -

Loan Approval Date

9/7/2001

Loan Approval Gross Amount

$470,000

Loan Approval from the SBA

Of the total $470,000 loan amount, the SBA guaranteed $352,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 40 employees. The SBA loan documents indicated that the loan would help retain 40 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Pennington NJ, you ought to talk with a local Pennington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pennington businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce 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.

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