SBA Loans for General Merchandise Stores

With these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $140,000 was given to a Pennsylvania entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $140,000 from Woori America Bank. The SBA made the loan possible by guaranteeing $119,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
PHILADELPHIA, PA 19107

SBA Loan Lender

WOORI AMERICA BANK
1250 BROADWAY & 32ND ST
NEW YORK CITY, NY 10001

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

452990 - General Merchandise Stores

Loan Approval Date

8/1/2007

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $140,000 loan. Remember, things become real when you believe you can achieve them!

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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