Raising Money for Chocolate and Confectionery Manufacturing from Cacao Beans
With these bank loans for chocolate and confectionery manufacturing from cacao beans, the SBA guarantees the lender that the loan will be repaid. This chocolate and confectionery manufacturing from cacao beans loan for $100,000 was given to a New York entrepreneur in 2006.
This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Commerce Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $100,000 to help grow their New York, New York business.
SBA Loan Borrower
COMPANY TYPE: CHOCOLATE AND CONFECTIONERY MANUFACTURING FROM CACAO BEANS
New york, NY 10012
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
311320 - Chocolate and Confectionery Manufacturing from Cacao Beans
Loan Approval Date
5/30/2006
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must 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.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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