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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Flemington, Business Loans > Commerce Bank Flemington Business Loans > New Car Dealers Loan | ||||
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How to Get SBA Loans in East Brunswick, New Jersey
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Loans for New Car DealersLooking for loans for new car dealers? Try the SBA. This $1,200,000 new car dealers loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Brunswick, New Jersey was able to borrow $1,200,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $900,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: NEW CAR DEALERS SBA Loan Lender COMMERCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441110 - New Car Dealers Loan Approval Date 1/11/2001 Loan Approval Gross Amount $1,200,000 Loan Approval from the SBA Of the total $1,200,000 loan amount, the SBA guaranteed $900,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 32 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 22 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, 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: Obtaining Funding - How to Decide How Much to Raise Best Flemington, New Jersey Banks for Small Business
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