Commerce Bank SBA Loan to Hotels And Motels Company

Want a New Jersey SBA loan? Here's one New Jersey business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Commerce Bank, out of Flemington, New Jersey. The loan was granted and they received $927,500 to help grow their Elmwood Park (east Paterson), New Jersey business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ELMWOOD PARK (EAST PATERSON), NJ 07407

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$927,500

Loan Approval from the SBA

Of the total $927,500 loan amount, the SBA guaranteed $695,625.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $927,500. How would you spend $927,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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