How to Get a Loan for Medicinal and Botanical Manufacturing
With these commercial loans for medicinal and botanical manufacturing, the SBA guarantees the lender that the loan will be repaid. This medicinal and botanical manufacturing loan for $25,000 was given to a New Jersey entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pompton Plains, New Jersey was able to borrow $25,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $12,500 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: MEDICINAL AND BOTANICAL MANUFACTURING
POMPTON PLAINS, NJ 07444
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
325411 - Medicinal and Botanical Manufacturing
Loan Approval Date
9/16/2003
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Business Cash Advances
SBA Participating Banks in Philadelphia, Pennsylvania
Pennsylvania SBA 7A Lenders