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May 1, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Planet Beach Loan | ||||
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Advice for Getting a Franchise Loan
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Commerce Bank Provides SBA Loan to Buy Planet Beach FranchiseBorrowing money to purchase a Planet Beach franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Moorestown, New Jersey needed money to invest in a Planet Beach franchise back in 2004. Commerce Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower PLANET BEACH 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. NAICS Code 812199 - Personal Care Services Loan Approval Date 2/2/2004 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $172,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing 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. 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: SBA Participating Banks in Philadelphia, Pennsylvania Where to Get an SBA Loan Pennsylvania
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