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April 27, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Amazon Cafe Loan | ||||
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Commerce Bank Small Business Franchise Loan
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New Jersey Entrepreneur Secures Financing to Buy Amazon Cafe FranchiseNeed a loan to invest in an Amazon Cafe franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Sicklerville (sicklertown), New Jersey and are interested in buying an Amazon Cafe franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower AMAZON CAFE SBA Loan Lender COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 9/9/2004 Loan Approval Gross Amount $228,000 Loan Approval from the SBA Of the total $228,000 loan amount, the SBA guaranteed $171,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Amazon Cafe franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help create 7 new jobs. Getting an SBA Loan For Your Business 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. 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: SBA Approved Banks in Devon, Pennsylvania
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