Pennsylvania SBA Loan Issued to Automotive Glass Replacement Shops Company

Searching for a Pennsylvania SBA loan? This Pennsylvania entrepreneur got an SBA loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.

By giving the right information to Commerce Bank, this Philadelphia, Pennsylvania business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS
PHILADELPHIA, PA 19136

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811122 - Automotive Glass Replacement Shops

Loan Approval Date

8/6/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank 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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