Local Business Gets a Pennsylvania SBA Loan

Would a Pennsylvania business loan help your company expand? If so, you may want to talk with this Delaware bank, which offers SBA loans to Pennsylvania entrepreneurs.

Getting a small business loan in Kennett Square, Pennsylvania was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wilmington Trust Corporation. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
KENNETT SQUARE, PA 19348

SBA Loan Lender

WILMINGTON TRUST CORPORATION
1100 N MARKET ST
WILMINGTON, DE 19890

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/15/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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 Wilmington Trust Corporation 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.

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