Malvern Federal Savings Bank Gives SBA Loan to Eating Places Company

Searching for a Pennsylvania bank loan? This Pennsylvania entrepreneur got a bank loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.

Getting a small business loan in Frazer, Pennsylvania was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Malvern Federal Savings Bank. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
FRAZER, PA 19355

SBA Loan Lender

MALVERN FEDERAL SAVINGS BANK
42 E LANCASTER AVE
PAOLI, PA 19301

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/7/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 38 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Frazer PA, you ought to talk with a local Frazer SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Frazer businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Borrowing Money from Friends and Family

SBA 7A Banks in Paoli, Pennsylvania

Pennsylvania SBA 7A Lenders