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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Delco Restorations Inc Loan | ||||
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Business Loans for Folsom Small Business Owners
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Pennsylvania Entrepreneur Secures Financing to Buy Servpro FranchiseBorrowing money to buy a Servpro franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Servpro franchise may simply require a phone call to a local SBA banker. In 2004, Commerce Bank issued an SBA franchise loan to an entrepreneur in Folsom, Pennsylvania. Because Servpro was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis. SBA Loan Borrower DELCO RESTORATIONS INC SBA Loan Lender COMMERCE BANK 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. NAICS Code 236220 - Commercial and Institutional Building Construction Loan Approval Date 5/25/2004 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commerce Bank 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. Related Links: Best Banks for Small Business in Devon, Pennsylvania Getting a Business Loan in Pennsylvania
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