Toms River, New Jersey Bank Lends Money to Specialty Trade Contractors Company in Port Monmouth, New Jersey

Thinking about meeting with a Toms River, New Jersey bank about an SBA loan? Here's one New Jersey business loan, issued by a Toms River bank, that was approved by the SBA.

Applying for an SBA loan with Commerce Bank worked out well for our friends at one local company in Port Monmouth, New Jersey. They received an SBA loan for $50,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
PORT MONMOUTH, NJ 07758

SBA Loan Lender

COMMERCE BANK
1101 HOOPER AVE
TOMS RIVER, NJ 08753

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238990 - Specialty Trade Contractors

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, fight for what you want, and it will be yours!

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 Line of Credit

Where to Get an SBA Loan in Toms River, New Jersey

Getting a Business Loan in New Jersey