Business Loan from National Penn Bancshares, Inc. Given to Convenience Stores Company

National Penn Bancshares, Inc. has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Breingsville, Pennsylvania was able to borrow $50,000 from National Penn Bancshares, Inc.. The SBA made the loan possible by guaranteeing $42,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
BREINGSVILLE, PA 18031

SBA Loan Lender

NATIONAL PENN BANCSHARES, INC.
PHILADELPHIA & READING AVE
BOYERTOWN, PA 19512

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

8/22/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National Penn Bancshares, Inc. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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