Scranton, Pennsylvania Bank Lends Money to Eating Places Company in Old Forge, Pennsylvania

Find Scranton, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Penn Security Bank & Trust Co. is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Old Forge, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Penn Security Bank & Trust Co.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
OLD FORGE, PA 18518

SBA Loan Lender

PENN SECURITY BANK & TRUST CO.
150 N WASHINGTON AVE
SCRANTON, PA 18503

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$82,000

Loan Approval from the SBA

Of the total $82,000 loan amount, the SBA guaranteed $65,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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