Boyertown, Pennsylvania Lender Lends Money to Commercial Bakeries Company
Get to know Boyertown, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. National Penn Bank is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Allentown, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from National Penn Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL BAKERIES
ALLENTOWN, PA 18102
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
311812 - Commercial Bakeries
Loan Approval Date
5/29/2003
Loan Approval Gross Amount
$164,000
Loan Approval from the SBA
Of the total $164,000 loan amount, the SBA guaranteed $123,000.
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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National Penn Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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 Art of Bootstrapping
Banks in Boyertown, Pennsylvania
Getting an SBA Loan in Pennsylvania