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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Boyertown, Business Loans > National Penn Bank Boyertown Business Loans > Power Laundries, Family And Commercial Loan | ||||
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Who Can Get a Business Loan in Marlton, New Jersey?
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Loans for Drycleaning and Laundry ServicesLooking for loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $40,000 drycleaning and laundry services loan was issued by a Pennsylvania bank. Getting a small business loan in Marlton, New Jersey was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National Penn Bank, operating out of Boyertown, Pennsylvania. Here are the details on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender NATIONAL PENN BANK 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. SIC Code 7211 - Power Laundries, Family and Commercial NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 1/14/2002 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Penn Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Penn Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Boyertown, Pennsylvania
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