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May 10, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Lemoyne, Business Loans > Commerce Bank/harrisburg Natl Lemoyne Business Loans > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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Commerce Bank/harrisburg Natl
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Commerce Bank/harrisburg Natl SBA Loan to Motorcycle, Atv, And Personal Watercraft Dealers CompanyCommerce Bank/harrisburg Natl is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Commerce Bank/harrisburg Natl, out of Lemoyne, Pennsylvania. The loan was granted and they received $70,000 to help grow their Highspire, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS SBA Loan Lender COMMERCE BANK/HARRISBURG NATL This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 2/15/2005 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had no employees. This SBA loan request indicated that the loan would help create 2 new jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank/harrisburg Natl and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Accountant's Role in Securing Financing Who Lends Money to Small Businesses in Lemoyne, Pennsylvania Getting an SBA Loan in Pennsylvania
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