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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Cartridge World Of Flemington Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Commerce Bank Provides SBA Loan to Buy Cartridge World Stores FranchiseNeed a loan to purchase a Cartridge World Stores franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Cartridge World Stores franchise? If so, here's a 2005 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Flemington, New Jersey. SBA Loan Borrower CARTRIDGE WORLD OF FLEMINGTON SBA Loan Lender COMMERCE BANK 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 453998 - Store Retailers Loan Approval Date 2/24/2005 Loan Approval Gross Amount $101,500 Loan Approval from the SBA Of the total $101,500 loan amount, the SBA guaranteed $86,275. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cartridge World Stores franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Philadelphia, Pennsylvania
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