Philadelphia, Pennsylvania Business Gets SBA-Guaranteed Funding from National Penn Bank

An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Philadelphia, Pennsylvania business owner got a $150,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with National Penn Bank, out of Boyertown, Pennsylvania. The loan was granted and they received $150,000 to help grow their Philadelphia, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
PHILADELPHIA, PA 19118

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

8/14/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Accountant's Role in Securing Financing

Good Banks for Small Business in Boyertown, Pennsylvania

SBA Participating Banks in Pennsylvania