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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Blankbook, Looseleaf Binders, And Devices Manufacturing Loan | ||||
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What Does It Take to Get a Business Loan in Kenilworth, New Jersey?
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Blankbook, Looseleaf Binders, and Devices Manufacturing Business LoansLooking for business loans for blankbook, looseleaf binders, and devices manufacturing? Try the SBA. This $330,000 blankbook, looseleaf binders, and devices manufacturing loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kenilworth, New Jersey was able to borrow $330,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $247,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: BLANKBOOK, LOOSELEAF BINDERS, AND DEVICES MANUFACTURING SBA Loan Lender COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 323118 - Blankbook, Looseleaf Binders, and Devices Manufacturing Loan Approval Date 3/26/2004 Loan Approval Gross Amount $330,000 Loan Approval from the SBA Of the total $330,000 loan amount, the SBA guaranteed $247,500. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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: Find an SBA Lender in Philadelphia, Pennsylvania Find an SBA Lender in Pennsylvania
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