Commerce Bank Provides SBA Loan to Buy Craters & Freighters Franchise

Borrowing money to invest in a Craters & Freighters franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Craters & Freighters franchise shouldn't be too tough. In 2001, Commerce Bank issued an SBA franchise loan to an entrepreneur in Bridgewater, New Jersey. Because Craters & Freighters was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

CRATERS & FREIGHTER OF CENTRAL
BRIDGEWATER, NJ 08807

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

The lender provided this 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

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

9/21/2001

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Craters & Freighters franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

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 SBA loan was for $15,000. How would you spend $15,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Craters & Freighters

Business Incubators

SBA 7A Lenders in Philadelphia, Pennsylvania

Browse All Business Loan Sources for Pennsylvania