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May 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Philadelphia Bank Loan
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Entrepreneur Works With Philadelphia, Pennsylvania Bank to Get an SBA LoanWant to talk with a Philadelphia, Pennsylvania bank about an SBA loan? Here's one New Jersey business loan, issued by a Philadelphia bank, that was approved by the SBA. Applying for an SBA loan with Commerce Bank worked out well for our friends at one local firm in Rochelle Park (township Of), New Jersey. The business was able to get an SBA loan for $10,000. Sweet! SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender COMMERCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 9/18/2003 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help generate 3 new jobs. Next Steps for Getting an SBA Loan If you are raising money in Rochelle Park (township Of) NJ, you ought to talk with a local Rochelle Park (township Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rochelle Park (township Of) businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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
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