SBA Loan from Commerce Bank Helps No Industry Type Specified Company

An SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mt. Laurel, New Jersey business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Mt. Laurel, New Jersey, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
Mt. Laurel, NJ 08054

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561310 -

Loan Approval Date

4/30/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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