Business Loan from National Penn Bank Given to Eating Places Company

An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Oxford, Pennsylvania business owner got a $70,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Oxford, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was National Penn Bank, based in Oxford, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
OXFORD, PA 19363

SBA Loan Lender

NATIONAL PENN BANK
24 S THIRD ST
OXFORD, PA 19363

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 9 employees. 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.

Getting an SBA Loan For Your Business

If you need business start up money in Oxford PA, you ought to talk with a local Oxford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oxford businesses.

This SBA loan was for $70,000. How would you spend $70,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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