Raising Money for Homes for the Elderly

With these business loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $700,000 was given to a Pennsylvania entrepreneur in 2004.

Getting a small business loan in Philadelphia, Pennsylvania was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Newtown, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
PHILADELPHIA, PA 19139

SBA Loan Lender

SOVEREIGN BANK
3 TERRY DR
NEWTOWN, PA 18940

This business loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

9/23/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 15 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Philadelphia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

SBA Approved Banks in Newtown, Pennsylvania

Pennsylvania SBA 7A Lenders