Souderton, Pennsylvania Lender Lends Money to Drywall And Insulation Contractors Company

Find Souderton, Pennsylvania banks that specialize in business loans and know how to work with entrepreneurs. Univest National Bank & Trust. is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Buckingham, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Univest National Bank & Trust.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS
BUCKINGHAM, PA 18912

SBA Loan Lender

UNIVEST NATIONAL BANK & TRUST.
10 W BROAD ST
SOUDERTON, PA 18964

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238310 - Drywall and Insulation Contractors

Loan Approval Date

6/13/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 20 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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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