Chester, New Jersey Entrepreneur Gets an SBA Loan

Want a New Jersey bank loan? This New Jersey entrepreneur got a bank loan, provided by a New Jersey bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Chester, New Jersey by studying this loan to a local company, made back in 2003. Banks like Commerce Bank/north may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHESTER, NJ 07930

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

The lender provided this debt financing 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

722110 - Full-Service Restaurants

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 60 employees. The loan application indicated that the loan would help retain 60 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank/north that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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