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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Electronic Connector Manufacturing Loan | ||||
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Pennsylvania SBA 7A Lenders
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Philadelphia, Pennsylvania Bank Gives SBA Loan to Electronic Connector Manufacturing CompanyA Philadelphia, Pennsylvania SBA loan can be yours. Learn how one firm got a $400,000 business loan from this Pennsylvania bank. This loan to an entrepreneur is a good example of an SBA loan. Commerce Bank made the loan and the SBA guaranteed a portion of the loan. Many other Pennsylvania entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: ELECTRONIC CONNECTOR MANUFACTURING SBA Loan Lender COMMERCE BANK 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. NAICS Code 334417 - Electronic Connector Manufacturing Loan Approval Date 2/14/2006 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 15 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commerce Bank and they will explain how you can get an SBA loan for your company. 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: A Company That Helps Entrepreneurs Best Banks in Philadelphia, Pennsylvania
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