SBA Loan from Commerce Bank Helps Child Day Care Services Company

Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Commerce Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $480,000 to help grow their Port Reading, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
PORT READING, NJ 07064

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA commercial 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

624410 - Child Day Care Services

Loan Approval Date

9/17/2004

Loan Approval Gross Amount

$480,000

Loan Approval from the SBA

Of the total $480,000 loan amount, the SBA guaranteed $360,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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