New Jersey SBA Loan Issued to Local Trucking Without Storage Company

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

This business, based in Hammonton, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Commerce Bank. We've got the inside scoop on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
HAMMONTON, NJ 08037

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA guaranteed bank loans 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

4212 - Local Trucking Without Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

3/7/2000

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $76,000.

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 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

504 Loans

Best Banks in Philadelphia, Pennsylvania

Pennsylvania SBA 7A Lenders