Loans for Electronic Parts and Equipment Wholesalers

Looking for loans for electronic parts and equipment wholesalers? The SBA may be the answer. This $431,000 electronic parts and equipment wholesalers loan was issued by a Pennsylvania bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Bergen, New Jersey was able to borrow $431,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $323,250 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS
NORTH BERGEN, NJ 07047

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

421690 - Electronic Parts and Equipment Wholesalers

Loan Approval Date

10/26/2001

Loan Approval Gross Amount

$431,000

Loan Approval from the SBA

Of the total $431,000 loan amount, the SBA guaranteed $323,250.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $431,000 loan. Remember, anyone can do it... so why not 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.

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