Douglassville, Pennsylvania Business Gets SBA-Guaranteed Funding from National Penn Bank

An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Douglassville, Pennsylvania business owner got a $992,500 loan.

Getting a small business loan in Douglassville, Pennsylvania was an essential business goal for this small business back in 2000 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: STEEL INVESTMENT FOUNDRIES
DOUGLASSVILLE, PA 19518

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3324 - Steel Investment Foundries

NAICS Code

331512 - Steel Investment Foundries

Loan Approval Date

8/21/2000

Loan Approval Gross Amount

$992,500

Loan Approval from the SBA

Of the total $992,500 loan amount, the SBA guaranteed $744,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. The SBA loan application for the borrower indicated that the loan would help retain 45 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $992,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Small Business Loan

Banks in Boyertown, Pennsylvania

SBA Pennsylvania Lenders