Commerce SBA Loans Top 108M

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Commerce Bancorp in Cherry Hill says it was ranked first in New Jersey and ninth in the country by the Small Business Administration (SBA)Commerce Bancorp (NYSE: CBH) in Cherry Hill says it was ranked first in New Jersey and ninth in the country by the Small Business Administration (SBA) in dollar volume for small-business loans. The bank says it doled out over $200 million in SBA-backed loans for the fiscal year ended Sept. 30. Among the loans, an estimated $36 million went to Asian-owned businesses, $24 million to women-owned businesses and $6.6 million to black-owned businesses, according to the bank. Shares of Commerce shed 38 cents to $34.83 during late morning trading.