Bank Of America SBA Loan to Computers, Peripherals, And Software Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Langhorne, Pennsylvania business owner got a $100,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Bethlehem, Pennsylvania. The loan was granted and they received $100,000 to help grow their Langhorne, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE
LANGHORNE, PA 19047

SBA Loan Lender

BANK OF AMERICA
ONE BETHLEHEM PLZ
BETHLEHEM, PA 18018

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5045 - Computers, Peripherals, and Software

Loan Approval Date

4/25/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $100,000 loan. Remember, feel the fear, and do it anyway.

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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