Pottstown, Pennsylvania Business Gets SBA-Guaranteed Funding from National Penn Bank
An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pottstown, Pennsylvania business owner got a $150,000 loan.
This business knew how to go about getting a business bank loan. Based in Pottstown, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was National Penn Bank, based in Boyertown, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION
Pottstown, PA 19464
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
237310 - Highway, Street, and Bridge Construction
Loan Approval Date
4/18/2006
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 32 employees. This SBA loan request indicated that the loan would help retain 32 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Penn Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Penn Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Alternative Financing
SBA Banks in Boyertown, Pennsylvania
Pennsylvania SBA 7A Lenders