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November 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Eating Places Loan | ||||
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Pennsylvania Bank SBA Loans
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Bank Of America SBA Loan to Eating Places CompanySearching for a Pennsylvania small business loan? Here's one Pennsylvania business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Havertown, Pennsylvania, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Blue Bell, Pennsylvania. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK OF AMERICA This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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 Loan Approval Date 7/7/2000 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America 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: Where to Get an SBA Loan in Blue Bell, Pennsylvania
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