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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Machine Shops Loan | ||||
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SBA Loans from Bank Of America
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Business Loan from Bank Of America Given to Machine Shops CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Phoenixville, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Blue Bell, Pennsylvania. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender BANK OF AMERICA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 1/2/2004 Loan Approval Gross Amount $945,000 Loan Approval from the SBA Of the total $945,000 loan amount, the SBA guaranteed $708,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Bank Loans in Blue Bell, Pennsylvania
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