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May 18, 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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Toms River, New Jersey SBA Banks
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Toms River, New Jersey Bank Gives SBA Loan to Bed-And-Breakfast Inns CompanyThinking about meeting with a Toms River, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a Toms River bank, that was approved by the SBA. Applying for an SBA loan with Commerce Bank worked out well for our friends at one local business in Manasquan, New Jersey. They received an SBA loan for $650,000. Great job! SBA Loan Borrower COMPANY TYPE: BED-AND-BREAKFAST INNS SBA Loan Lender COMMERCE BANK This lender provides SBA loans 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 721191 - Bed-and-Breakfast Inns Loan Approval Date 9/10/2002 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Dealing With Venture Capitalists SBA Participating Banks in Toms River, New Jersey
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