Entrepreneur Works With Souderton, Pennsylvania Bank to Get an SBA Loan

Thinking about meeting with a Souderton, Pennsylvania bank about a business loan? Here's one Pennsylvania business loan, issued by a Souderton bank, that was approved by the SBA.

Applying for an SBA loan with Univest National Bank & Trust. worked out well for our friends at one local company in Hatfield, Pennsylvania. They received an SBA loan for $30,000. Nice!

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS
HATFIELD, PA 19440

SBA Loan Lender

UNIVEST NATIONAL BANK & TRUST.
10 W BROAD ST
SOUDERTON, PA 18964

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7629 - Electrical and Electronic Repair Shops

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

8/8/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Univest National Bank & Trust. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Equity Financing

Banks in Souderton, Pennsylvania

Where to Get an SBA Loan Pennsylvania