Commerce Bank SBA Loan to Wood Household Furniture Company

Searching for a New Jersey small business loan? Here's one New Jersey business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Commerce Bank, out of Flemington, New Jersey. The loan was granted and they received $150,000 to help grow their Paterson, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: WOOD HOUSEHOLD FURNITURE
PATERSON, NJ 07503

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

2511 - Wood Household Furniture

Loan Approval Date

4/19/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 30 employees. This SBA loan request indicated that the loan would help retain 30 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Paterson NJ, you ought to talk with a local Paterson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Paterson businesses.

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 $150,000 loan. Remember, feel the fear, and do it anyway.

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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Flemington, New Jersey

Where to Get an SBA Loan New Jersey