Commerce Bank Provides SBA Loan to Buy Horn & Hardart Bakery Cafe Franchise

Borrowing money to invest in a Horn & Hardart Bakery Cafe franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Horn & Hardart Bakery Cafe franchise loans are available to Marlton, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Devon, Pennsylvania, issued an SBA franchise loan for a Horn & Hardart Bakery Cafe franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

HORN & HARDART BAKERY CAFE
MARLTON, NJ 08053

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

The lender provided this SBA business loan 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

722211 - Limited-Service Restaurants

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Horn & Hardart Bakery Cafe franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commerce Bank and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Devon, Pennsylvania

Where to Get an SBA Loan Pennsylvania