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November 16, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Plymouth Meeting, Business Loans > Continental Bank Plymouth Meeting Business Loans > Metalworking Machinery Manufacturing Loan | ||||
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Pennsylvania Small Business SBA Loans
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Continental Bank Gives Small Business Loan to Metalworking Machinery Manufacturing CompanyPennsylvaniaSBA loans are available to Pennsylvania entrepreneurs through the SBA. In this case, a Pennsylvania bank provides the loan. By giving the right information to Continental Bank, this Huntingdon Valley, Pennsylvania business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING SBA Loan Lender CONTINENTAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333518 - Metalworking Machinery Manufacturing Loan Approval Date 2/9/2007 Loan Approval Gross Amount $580,000 Loan Approval from the SBA Of the total $580,000 loan amount, the SBA guaranteed $435,000. 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 65 employees. The loan application indicated that the loan would help generate 65 new jobs and retain 62 existing jobs. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Continental Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Continental Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Banks in Plymouth Meeting, Pennsylvania
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