 |
 |
May 17, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Eating Places Loan | ||||
 |
||||
Small Business Banks That Lend to Marlton Small Businesses
|
||||
 |
Commerce Bank Gives Small Business Loan to Eating Places CompanySBA loans in New Jersey are hard to find these days. We take a look at one New Jersey SBA loan, provided by a Pennsylvania bank, that was approved by the SBA. Getting a small business loan in Marlton, New Jersey was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/23/2000 Loan Approval Gross Amount $455,000 Loan Approval from the SBA Of the total $455,000 loan amount, the SBA guaranteed $341,250. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 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: SBA Banks in Philadelphia, Pennsylvania
|
|
||
|
||||
|
|
||||