Pennsylvania Small Business Loan Issued to Eating Places Company

Would a Pennsylvania bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Pennsylvania bank, which offers SBA loans to Pennsylvania entrepreneurs.

Getting a small business loan in Philadelphia, Pennsylvania was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Firstrust Savings Bank. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PHILADELPHIA, PA 19128

SBA Loan Lender

FIRSTRUST SAVINGS BANK
1931 COTTMAN AVE
PHILADELPHIA, PA 19111

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

1/25/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

Related Links:

A Company That Helps Entrepreneurs

SBA Participating Banks in Philadelphia, Pennsylvania

SBA Lenders in Pennsylvania