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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Flemington, Business Loans > Commerce Bank Flemington Business Loans > Operators Of Nonresidental Buildings Loan | ||||
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Getting a Small Business Loan from Commerce Bank
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SBA Loan from Commerce Bank Helps Operators Of Nonresidental Buildings CompanyCommerce Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Commerce Bank, out of Flemington, New Jersey. The loan was granted and they received $765,000 to help grow their Baptistown, New Jersey business. SBA Loan Borrower COMPANY TYPE: OPERATORS OF NONRESIDENTAL BUILDINGS 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. SIC Code 6512 - Operators of Nonresidental Buildings Loan Approval Date 8/24/2000 Loan Approval Gross Amount $765,000 Loan Approval from the SBA Of the total $765,000 loan amount, the SBA guaranteed $552,934. 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 only one employee. The SBA loan documents indicated that the loan would help retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Flemington, New Jersey
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