Asian Bank SBA Loan to Repair Shops And Related Services Company

Asian Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Bala Cynnyd, Pennsylvania was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Asian Bank, operating out of Philadelphia, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
BALA CYNNYD, PA 19004

SBA Loan Lender

ASIAN BANK
111 N 9TH ST
PHILADELPHIA, PA 19107

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

1/22/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Bala Cynnyd PA, you ought to talk with a local Bala Cynnyd SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bala Cynnyd businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, anyone can do it... so why not 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

Small Bank Loans in Philadelphia, Pennsylvania

Getting a Business Loan in Pennsylvania