Citizens Bank Of Pennsylvania SBA Loan to General Long-Distance, Less-Than-One-Truckload Freight Trucking Company

Citizens Bank Of Pennsylvania has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Citizens Bank Of Pennsylvania, out of Philadelphia, Pennsylvania. The loan was granted and they received $15,000 to help grow their Bensalem, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE, LESS-THAN-ONE-TRUCKLOAD FREIGHT TRUCKING
BENSALEM, PA 19020

SBA Loan Lender

CITIZENS BANK OF PENNSYLVANIA
2001 MARKET ST, STE 600
PHILADELPHIA, PA 19103

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

484122 - General Long-Distance, Less-Than-One-Truckload Freight Trucking

Loan Approval Date

10/23/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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