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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Ramsey, Business Loans > Commerce Bank/north Ramsey Business Loans > Chetupal Corp Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Commerce Bank/north Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Commerce Bank/north has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Plainsboro, New Jersey needed money to invest in a Subway Sandwich Shop franchise back in 2002. Commerce Bank/north issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower CHETUPAL CORP SBA Loan Lender COMMERCE BANK/NORTH Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/24/2002 Loan Approval Gross Amount $124,000 Loan Approval from the SBA Of the total $124,000 loan amount, the SBA guaranteed $105,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $124,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Borrowing Money from Friends and Family Small Business Banks in Ramsey, New Jersey
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