Farmers National Bank - Emlenton Gives Bank Loan to Food Stores Company

Business loans in Pennsylvania are tough to come by these days. We take a look at one Pennsylvania business loan, provided by a Pennsylvania bank, that was approved by the SBA.

Getting a small business loan in Chicora, Pennsylvania was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Farmers National Bank - Emlenton. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
CHICORA, PA 16025

SBA Loan Lender

FARMERS NATIONAL BANK - EMLENTON
612 MAIN ST
EMLENTON, PA 16373

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445210 - Meat Markets

Loan Approval Date

7/1/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 15 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Farmers National Bank - Emlenton are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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