Leesport, Pennsylvania Lender Lends Money to Full-Service Restaurants Company

A Leesport, Pennsylvania SBA loan can be yours. Learn how a business got a $307,500 business loan from this Pennsylvania bank.

This loan to an entrepreneur is a good example of an SBA loan. Vist 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: FULL-SERVICE RESTAURANTS
ORWIGSBURG, PA 17961

SBA Loan Lender

VIST BANK
133 N CENTER AVE
LEESPORT, PA 19533

This loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/20/2003

Loan Approval Gross Amount

$307,500

Loan Approval from the SBA

Of the total $307,500 loan amount, the SBA guaranteed $230,625.

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 11 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Vist Bank 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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