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June 11, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Flemington, Business Loans > Commerce Bank Flemington Business Loans > Eating Places Loan | ||||
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SBA Lender Clinton
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Commerce Bank SBA Loan to Eating Places CompanyAn SBA loan from Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clinton, New Jersey business owner got a $310,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clinton, New Jersey was able to borrow $310,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $232,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender COMMERCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 5/17/2000 Loan Approval Gross Amount $310,000 Loan Approval from the SBA Of the total $310,000 loan amount, the SBA guaranteed $232,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help generate 7 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Approved Banks in Flemington, New Jersey
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