Philadelphia, Pennsylvania Bank Lends Money to Flower, Nursery Stock, And Florists' Supplies Wholesalers Company in Linden, New Jersey

Get to know Philadelphia, Pennsylvania banks that specialize in business loans and know how to work with entrepreneurs. Commerce Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Linden, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Commerce Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FLOWER, NURSERY STOCK, AND FLORISTS' SUPPLIES WHOLESALERS
LINDEN, NJ 07036

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

422930 - Flower, Nursery Stock, and Florists' Supplies Wholesalers

Loan Approval Date

7/1/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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