Commerce Bank/harrisburg Natl SBA Loan to Eating Places Company

Looking to get a Pennsylvania small business loan? Here's one Pennsylvania business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hanover, Pennsylvania was able to borrow $307,500 from Commerce Bank/harrisburg Natl. The SBA made the loan possible by guaranteeing $230,625 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HANOVER, PA 17331

SBA Loan Lender

COMMERCE BANK/HARRISBURG NATL
1249 MARKET ST
LEMOYNE, PA 17043

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

5812 - Eating Places

Loan Approval Date

3/15/2000

Loan Approval Gross Amount

$307,500

Loan Approval from the SBA

Of the total $307,500 loan amount, the SBA guaranteed $230,625.

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 15 employees. The loan application indicated that the funding would help generate 15 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank/harrisburg Natl and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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