Commerce Bank/north Gives Bank Loan to Durable Goods Wholesalers Company

Business loans in New Jersey are are few and far betweeen these days. We take a look at one New Jersey business loan, provided by a New Jersey bank, that was approved by the SBA.

Getting a small business loan in Carlstadt, New Jersey was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank/north. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS WHOLESALERS
CARLSTADT, NJ 07072

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

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

421990 - Durable Goods Wholesalers

Loan Approval Date

9/26/2001

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 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours 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:

Find Start-Up Capital

Where to Get an SBA Loan in Ramsey, New Jersey

New Jersey SBA Banks