SBA Loan from Commerce Bank Helps Full-Service Restaurants Company

Commerce Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Commerce Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $180,000 to help grow their Manville, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MANVILLE, NJ 08835

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

10/28/2003

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Manville NJ, you ought to talk with a local Manville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Manville businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commerce Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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SBA 7A Banks for Philadelphia, Pennsylvania Loans

Getting an SBA Loan in Pennsylvania