Machine Shops Commercial Loans
With these commercial loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $25,000 was given to a Pennsylvania entrepreneur in 2006.
Getting a small business loan in Collegeville, Pennsylvania was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from National Penn Bank, operating out of Boyertown, Pennsylvania. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: MACHINE SHOPS
Collegeville, PA 19426
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
332710 - Machine Shops
Loan Approval Date
3/27/2006
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
Related Links:
Family and Friend Investors - Your First Financiers
Banks in Boyertown, Pennsylvania
Getting an SBA Loan in Pennsylvania