Entrepreneur Works With Philadelphia, Pennsylvania Bank to Get an SBA Loan

Find Philadelphia, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Conestoga Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Philadelphia, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Conestoga Bank. 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
PHILADELPHIA, PA 19102

SBA Loan Lender

CONESTOGA BANK
1835 MARKET ST, STE 2601
PHILADELPHIA, PA 19103

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

12/13/2000

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

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 18 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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

Related Links:

The Friends and Family Network

Who Lends Money to Small Businesses in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania