Commerce Bank Provides SBA Loan to Buy Liberty Tax Service Franchise

Need money to buy a Liberty Tax Service franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Liberty Tax Service franchise loans are available to Union Beach, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Toms River, New Jersey, issued an SBA franchise loan for a Liberty Tax Service franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

LIBERTY TAX SERVICE # 2753
UNION BEACH, NJ 07735

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

541213 - Tax Preparation Services

Loan Approval Date

12/30/2003

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 Liberty Tax Service franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Liberty Tax Service

Determining Proper Capital Structure for a Business

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

New Jersey SBA 7A Banks