Entrepreneur Works With Flemington, New Jersey Bank to Get an SBA Loan

Want to talk with a Flemington, New Jersey bank about an SBA loan? Here's one Florida business loan, issued by a Flemington 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 Bradenton, Florida. They received an SBA loan for $1,201,500. Great job!

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
BRADENTON, FL 34207

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

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

811192 - Car Washes

Loan Approval Date

11/27/2007

Loan Approval Gross Amount

$1,201,500

Loan Approval from the SBA

Of the total $1,201,500 loan amount, the SBA guaranteed $901,125.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Incubators

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Find an SBA Lender in New Jersey