Wilmington Savings Fund Societ SBA Loan to Book Stores Company

An SBA loan from Wilmington Savings Fund Societ typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Castle, Delaware business owner got a $40,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Castle, Delaware was able to borrow $40,000 from Wilmington Savings Fund Societ. The SBA made the loan possible by guaranteeing $34,000 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
NEW CASTLE, DE 19720

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

3/13/2001

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilmington Savings Fund Societ and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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