Getting an SBA Loan for Diagnostic Imaging Centers

With these commercial loans for diagnostic imaging centers, the SBA guarantees the lender that the loan will be repaid. This diagnostic imaging centers loan for $1,350,000 was given to a New Jersey entrepreneur in 2003.

Getting a small business loan in Harding Township, New Jersey was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Flemington, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
HARDING TOWNSHIP, NJ 07960

SBA Loan Lender

COMMERCE BANK
288 HWY 202/31
FLEMINGTON, NJ 08822

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8071 - Medical Laboratories

NAICS Code

621512 - Diagnostic Imaging Centers

Loan Approval Date

8/29/2003

Loan Approval Gross Amount

$1,350,000

Loan Approval from the SBA

Of the total $1,350,000 loan amount, the SBA guaranteed $999,999.

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 SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Incubators

Small Bank Loans in Flemington, New Jersey

SBA Lenders in New Jersey