Entrepreneur Works With Pottstown, Pennsylvania Bank to Get an SBA Loan

Thinking about meeting with a Pottstown, Pennsylvania bank about a business loan? Here's one Pennsylvania business loan, issued by a Pottstown bank, that was approved by the SBA.

Applying for an SBA loan with Patriot Bank worked out well for our friends at one local company in Broadheadville, Pennsylvania. They received an SBA loan for $1,541,800. Way to go!

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
BROADHEADVILLE, PA 18322

SBA Loan Lender

PATRIOT BANK
1566 MEDICAL DR
POTTSTOWN, PA 19464

This SBA loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$1,541,800

Loan Approval from the SBA

Of the total $1,541,800 loan amount, the SBA guaranteed $1,156,350.

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 15 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Patriot Bank 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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