Commerce Bank Gives Business Loan to Grocery And Related Products Wholesalers Company
New YorkSBA loans are available to New York entrepreneurs through the SBA. In this case, a Pennsylvania bank provides the loan.
You can learn something about getting a small business loan in Long Island City, New York by studying this loan to a local business, made back in 2002. Banks like Commerce Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS
LONG ISLAND CITY, NY 11105
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
422490 - Grocery and Related Products Wholesalers
Loan Approval Date
6/27/2002
Loan Approval Gross Amount
$500,000
Loan Approval from the SBA
Of the total $500,000 loan amount, the SBA guaranteed $375,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
The Friends and Family Network
SBA 7A Banks for Philadelphia, Pennsylvania Loans
Browse All Business Loan Sources for Pennsylvania