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December 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Scranton, Business Loans > Pennstar Bank, A Division Of Scranton Business Loans > Grocery Stores Loan | ||||
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Pennsylvania SBA 7A Lenders
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Entrepreneur Works With Scranton, Pennsylvania Bank to Get an SBA LoanA Scranton, Pennsylvania business loan can be yours. Learn how a company got a $35,000 business loan from this Pennsylvania bank. This loan to a local firm is a good example of an SBA loan. Pennstar Bank, A Division Of made the loan and the SBA guaranteed a portion of the loan. Many other Pennsylvania entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender PENNSTAR BANK, A DIVISION OF This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 2/4/2002 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $35,000 loan. Remember, fight for what you want, and it will be yours! 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: Role of Business Plan When Raising Money Best Banks for Small Business in Scranton, Pennsylvania
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