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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Wilmington, Business Loans > Wilmington Trust Company Wilmington Business Loans > Eating Places Loan | ||||
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PA Small Business Loans from Wilmington Trust Company
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Boothwyn, Pennsylvania Business Gets SBA-Guaranteed Funding from Wilmington Trust CompanyWilmington Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Boothwyn, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Wilmington Trust Company, based in Wilmington, Delaware. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender WILMINGTON TRUST COMPANY This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/2/2004 Loan Approval Gross Amount $76,500 Loan Approval from the SBA Of the total $76,500 loan amount, the SBA guaranteed $65,025. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Boothwyn or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Getting Venture Capital Good Banks for Small Business in Wilmington, Delaware Getting an SBA Loan in Delaware
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