Photography Studios, Portrait Commercial Loans

With these commercial loans for photography studios, portrait, the SBA guarantees the lender that the loan will be repaid. This photography studios, portrait loan for $20,000 was given to a Delaware entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Newark, Delaware, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Wilmington Trust Company, based in Wilmington, Delaware.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
NEWARK, DE 19711

SBA Loan Lender

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

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

541921 - Photography Studios, Portrait

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Newark or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Choosing VC Firms

SBA Banks in Wilmington, Delaware

SBA Lenders in Delaware