Musical Instrument and Supplies Stores Commercial Loans

With these commercial loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $747,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Jefferson Station, New York was able to borrow $747,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $560,250 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
PORT JEFFERSON STATION, NY 11776

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$747,000

Loan Approval from the SBA

Of the total $747,000 loan amount, the SBA guaranteed $560,250.

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 19 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 19 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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