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December 20, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Asian Bank Philadelphia Business Loans > Eating Places Loan | ||||
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Pennsylvania Small Business Funding
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Full-Service Restaurants Commercial LoansLooking for commercial loans for full-service restaurants? The SBA may be the answer. This $120,000 full-service restaurants loan was issued by a Pennsylvania bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Asian Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $120,000 to help grow their Philadelphia, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender ASIAN BANK This lender issued this particular bank 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 6/18/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Asian Bank and they will explain how you can get an SBA loan for your company. 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: SBA 7A Banks for Philadelphia, Pennsylvania Loans
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