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December 23, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Flower, Nursery Stock, And Florists' Supplies Merchant Wholesalers Loan | ||||
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Commerce Bank SBA Loan
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Commerce Bank SBA Loan to Flower, Nursery Stock, And Florists' Supplies Merchant Wholesalers CompanyCommerce Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgewater, New Jersey was able to borrow $560,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $420,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: FLOWER, NURSERY STOCK, AND FLORISTS' SUPPLIES MERCHANT WHOLESALERS 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 424930 - Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers Loan Approval Date 8/28/2003 Loan Approval Gross Amount $560,000 Loan Approval from the SBA Of the total $560,000 loan amount, the SBA guaranteed $420,000. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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: Banks in Philadelphia, Pennsylvania
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