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May 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Used Car Dealers Loan | ||||
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Banks Doing SBA Loans in Pennsylvania
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Philadelphia, Pennsylvania Lender Lends Money to Used Car Dealers CompanyWant to talk with a Philadelphia, Pennsylvania bank about a small business loan? Here's one New Jersey business loan, issued by a Philadelphia bank, that was approved by the SBA. Applying for an SBA loan with Commerce Bank worked out well for our friends at one local company in Dunellen, New Jersey. The business was able to get an SBA loan for $300,000. Way to go! SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS 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 441120 - Used Car Dealers Loan Approval Date 8/30/2007 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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. This SBA loan request indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commerce Bank and they will explain how you can get an SBA loan for your company. 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 Philadelphia, Pennsylvania
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