Business Loan from Commerce Bank Given to Public Golf Courses Company

An SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pittsgrove Township, New Jersey business owner got a $1,700,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Pittsgrove Township, New Jersey, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: PUBLIC GOLF COURSES
PITTSGROVE TOWNSHIP, NJ 08079

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7992 - Public Golf Courses

NAICS Code

713910 - Golf Courses and Country Clubs

Loan Approval Date

2/20/2001

Loan Approval Gross Amount

$1,700,000

Loan Approval from the SBA

Of the total $1,700,000 loan amount, the SBA guaranteed $774,996.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Pittsgrove Township NJ, you ought to talk with a local Pittsgrove Township SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pittsgrove Township businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Raising VC Money for Social Networking Companies

SBA 7A Banks in Philadelphia, Pennsylvania

SBA Pennsylvania Lenders