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May 21, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Hotels And Motels Loan | ||||
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Commerce Bank
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Old Saybrook (census Name For, Connecticut Business Gets SBA-Guaranteed Funding from Commerce BankAn SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Old Saybrook (census Name For, Connecticut business owner got a $1,550,000 loan. Getting a small business loan in Old Saybrook (census Name For, Connecticut was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Philadelphia, Pennsylvania. Here are the details on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS 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 721110 - Hotels and Motels Loan Approval Date 7/7/2003 Loan Approval Gross Amount $1,550,000 Loan Approval from the SBA Of the total $1,550,000 loan amount, the SBA guaranteed $999,998. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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: Small Business Banks in Philadelphia, Pennsylvania
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