Pennington, New Jersey Business Gets SBA-Guaranteed Funding from Commerce Bank

An SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pennington, New Jersey business owner got a $300,000 loan.

Getting a small business loan in Pennington, New Jersey was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Bensalem, Pennsylvania. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
PENNINGTON, NJ 08534

SBA Loan Lender

COMMERCE BANK
GLENVIEW CORPORATE CENTER, ST
BENSALEM, PA 19020

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

8/18/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $270,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

Related Links:

Obtaining Funding - Getting Venture Capital

SBA 7A Lenders in Bensalem, Pennsylvania

SBA Lenders in Pennsylvania