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May 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Toms River, Business Loans > Commerce Bank Toms River Business Loans > Bed-And-Breakfast Inns Loan | ||||
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Commerce Bank Glenwood
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Glenwood, New Jersey Business Gets SBA-Guaranteed Funding from Commerce BankCommerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Glenwood, New Jersey was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Toms River, New Jersey. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: BED-AND-BREAKFAST INNS 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 721191 - Bed-and-Breakfast Inns Loan Approval Date 6/15/2001 Loan Approval Gross Amount $495,000 Loan Approval from the SBA Of the total $495,000 loan amount, the SBA guaranteed $371,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Family and Friend Investors - Your First Financiers Best Toms River, New Jersey Banks for Small Business
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