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

Find Scranton, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Pennstar Bank, A Division Of is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lakawaxen, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Pennstar Bank, A Division Of. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAKAWAXEN, PA 18425

SBA Loan Lender

PENNSTAR BANK, A DIVISION OF
409 LACKAWANNA AVE, STE 101
SCRANTON, PA 18503

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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/4/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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 funding source

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pennstar Bank, A Division Of are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Borrowing Money from Friends and Family

SBA Participating Banks in Scranton, Pennsylvania

SBA Pennsylvania Lenders