Ramsey, New Jersey Bank Lends Money to Cut Stone And Stone Product Manufacturing Company in Passaic, New Jersey

Thinking about meeting with a Ramsey, New Jersey bank about a small business loan? Here's one New Jersey business loan, issued by a Ramsey bank, that was approved by the SBA.

Applying for an SBA loan with Commerce Bank/north worked out well for our friends at one local firm in Passaic, New Jersey. The business was able to get an SBA loan for $100,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING
PASSAIC, NJ 07055

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

9/2/2005

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. This loan was not for a franchise. At the time of the loan, the company had 60 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 60 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank/north had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank/north made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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