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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Citizens Bank Of Pennsylvania Philadelphia Business Loans > Industrial Machinery Manufacturing Loan | ||||
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Citizens Bank Of Pennsylvania
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Lemoyne, Pennsylvania Business Gets SBA-Guaranteed Funding from Citizens Bank Of PennsylvaniaCitizens 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 $12,600 to help grow their Lemoyne, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING SBA Loan Lender CITIZENS BANK OF PENNSYLVANIA The lender provided this 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 333298 - Industrial Machinery Manufacturing Loan Approval Date 3/17/2005 Loan Approval Gross Amount $12,600 Loan Approval from the SBA Of the total $12,600 loan amount, the SBA guaranteed $6,300. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Good Banks for Small Business in Philadelphia, Pennsylvania
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