Financial Transactions Processing, Reserve, and Clearinghouse Activities Small Business Loans

With these small business loans for financial transactions processing, reserve, and clearinghouse activities, the SBA guarantees the lender that the loan will be repaid. This financial transactions processing, reserve, and clearinghouse activities loan for $150,000 was given to a New Jersey entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Brigantine, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FINANCIAL TRANSACTIONS PROCESSING, RESERVE, AND CLEARINGHOUSE ACTIVITIES
BRIGANTINE, NJ 08203

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522320 - Financial Transactions Processing, Reserve, and Clearinghouse Activities

Loan Approval Date

6/5/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Brigantine NJ, you ought to talk with a local Brigantine SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brigantine businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Accountant's Role in Securing Financing

Small Business Banks in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania