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May 17, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Car Washes Loan | ||||
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Getting an SBA Loan in Medford (census Name Medford C, New Jersey
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Commerce Bank Gives SBA Loan to Car Washes CompanyBank loans in New Jersey are hard to find these days. We take a look at one New Jersey bank loan, provided by a Pennsylvania bank, that was approved by the SBA. This business, based in Medford (census Name Medford C, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Commerce Bank. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 9/25/2003 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? 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: A Company That Helps Entrepreneurs Best Philadelphia, Pennsylvania Banks for Small Business
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