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April 24, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Hallmark Loan | ||||
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How to Get SBA Loans in Burlington, New Jersey
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Loan to Buy Hallmark Card Shop Franchise Issued By Commerce BankNeed money to purchase a Hallmark Card Shop franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Burlington, New Jersey needed money to invest in a Hallmark Card Shop 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 HALLMARK SBA Loan Lender COMMERCE BANK This lender provides SBA debt financing 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 453998 - Store Retailers Loan Approval Date 6/17/2004 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 an existing business. This loan was used to buy a Hallmark Card Shop franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $360,000 loan. Remember, feel the fear, and do it anyway. 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: Determining Proper Capital Structure for a Business SBA 7A Banks for Philadelphia, Pennsylvania Loans
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