Citizens Bank Of Pennsylvania SBA Loan to Shoe Stores Company

Citizens Bank Of Pennsylvania is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Citizens Bank Of Pennsylvania, out of Philadelphia, Pennsylvania. The loan was granted and they received $25,000 to help grow their Lancaster, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
LANCASTER, PA 17603

SBA Loan Lender

CITIZENS BANK OF PENNSYLVANIA
2001 MARKET ST, STE 600
PHILADELPHIA, PA 19103

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $25,000 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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Philadelphia, Pennsylvania

SBA Lenders in Pennsylvania