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May 3, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Gnc Store #6111 Loan | ||||
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I Need a Loan to Buy a Franchise in Quakertown, Pennsylvania
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Quakertown, PA Entrepreneur Gets SBA Loan to Buy General Nutrition Center FranchiseBorrowing money to invest in a General Nutrition Center franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a General Nutrition Center franchise is doable. In 2004, Commerce Bank issued an SBA franchise loan to an entrepreneur in Quakertown, Pennsylvania. Because General Nutrition Center was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis. SBA Loan Borrower GNC STORE #6111 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 446191 - Food Supplement Stores Loan Approval Date 8/4/2004 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a General Nutrition Center 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 generate 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: General Nutrition Centers / GNC Live Well Where to Get an SBA Loan in Devon, Pennsylvania
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