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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Citizens Bank Of Pennsylvania Philadelphia Business Loans > Photographic Equipment And Supplies Merchant Wholesalers Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Business Loans for Photographic Equipment and Supplies Merchant WholesalersWith these business loans for photographic equipment and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This photographic equipment and supplies merchant wholesalers loan for $35,000 was given to a Pennsylvania entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $35,000 from Citizens Bank Of Pennsylvania. The SBA made the loan possible by guaranteeing $17,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHIC EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender CITIZENS BANK OF PENNSYLVANIA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423410 - Photographic Equipment and Supplies Merchant Wholesalers Loan Approval Date 7/11/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Dealing With Venture Capitalists Best Banks for Small Business in Philadelphia, Pennsylvania
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