Musical Instrument and Supplies Stores Small Business Loans

With these small business loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $192,000 was given to a New Jersey entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Deptford, New Jersey was able to borrow $192,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $144,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
Deptford, NJ 08096

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

5/21/2007

Loan Approval Gross Amount

$192,000

Loan Approval from the SBA

Of the total $192,000 loan amount, the SBA guaranteed $144,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Deptford NJ, you ought to talk with a local Deptford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Deptford businesses.

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.

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