Port Treverton, Pennsylvania Business Gets SBA-Guaranteed Funding from The Legacy Bank, A Division Of

The Legacy Bank, A Division Of and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Port Treverton, Pennsylvania was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Legacy Bank, A Division Of, operating out of Harrisburg, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
Port Treverton, PA 17864

SBA Loan Lender

THE LEGACY BANK, A DIVISION OF
2600 COMMERCE DR
HARRISBURG, PA 17110

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

12/15/2005

Loan Approval Gross Amount

$447,000

Loan Approval from the SBA

Of the total $447,000 loan amount, the SBA guaranteed $335,250.

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 no employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Business Credit Evaluation

Best Banks for Small Business in Harrisburg, Pennsylvania

SBA Participating Banks in Pennsylvania