SBA Loan from Pennstar Bank, A Division Of Helps Retail Bakeries Company

Pennstar Bank, A Division Of has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pennstar Bank, A Division Of, out of Scranton, Pennsylvania. The loan was granted and they received $131,750 to help grow their Clarks Sumitt, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
CLARKS SUMITT, PA 18411

SBA Loan Lender

PENNSTAR BANK, A DIVISION OF
409 LACKAWANNA AVE, STE 101
SCRANTON, PA 18503

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

8/2/2002

Loan Approval Gross Amount

$131,750

Loan Approval from the SBA

Of the total $131,750 loan amount, the SBA guaranteed $111,987.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Clarks Sumitt PA, you ought to talk with a local Clarks Sumitt SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clarks Sumitt businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pennstar Bank, A Division Of had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pennstar Bank, A Division Of made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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