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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Boyertown, Business Loans > National Penn Bank Boyertown Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Boyertown Bank Loan
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Boyertown, Pennsylvania Bank Lends Money to Coin-Operated Laundries And Drycleaning Company in Phoenixville, PennsylvaniaA Boyertown, Pennsylvania SBA loan can be yours. Learn how a company got a $87,000 business loan from this Pennsylvania bank. This loan to an entrepreneur is a good example of an SBA loan. National Penn Bank made the loan and the SBA guaranteed a portion of the loan. Many other Pennsylvania entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender NATIONAL PENN BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 10/16/2003 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $73,950. 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. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Lenders in Boyertown, Pennsylvania
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