Wilmington, Delaware Bank Lends Money to Employment Agencies Company in Newark, Delaware

Want to talk with a Wilmington, Delaware bank about a small business loan? Here's one Delaware business loan, issued by a Wilmington bank, that was approved by the SBA.

Applying for an SBA loan with Wilmington Trust Company worked out well for our friends at one local business in Newark, Delaware. The business was able to get an SBA loan for $40,000. Nice!

SBA Loan Borrower

COMPANY TYPE: EMPLOYMENT AGENCIES
NEWARK, DE 19713

SBA Loan Lender

WILMINGTON TRUST COMPANY
1100 N MARKET ST, RODNEY SQ N
WILMINGTON, DE 19890

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7361 - Employment Agencies

NAICS Code

561310 -

Loan Approval Date

3/6/2001

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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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. Wilmington Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilmington Trust Company 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.

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