Commerce Bank Provides SBA Loan to Buy Sensible Car Rental Franchise

Need money to purchase a Sensible Car Rental franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Toms River, New Jersey needed money to invest in a Sensible Car Rental franchise back in 2003. Commerce Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

EDINE'S AUTO CENTER
TOMS RIVER, NJ 08755

SBA Loan Lender

COMMERCE BANK
1101 HOOPER AVE
TOMS RIVER, NJ 08753

This lender processed this 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

441120 - Used Car Dealers

Loan Approval Date

5/22/2003

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. This loan was used to buy a Sensible Car Rental franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

The Friends and Family Network

SBA 7A Banks for Toms River, New Jersey Loans

SBA New Jersey Banks