Commercial Loans for General Merchandise Stores

With these commercial loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $59,000 was given to a Pennsylvania entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wachovia Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $59,000 to help grow their Roxborough, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
ROXBOROUGH, PA 19128

SBA Loan Lender

WACHOVIA BANK
123 S BROAD ST
PHILADELPHIA, PA 19109

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

10/4/2000

Loan Approval Gross Amount

$59,000

Loan Approval from the SBA

Of the total $59,000 loan amount, the SBA guaranteed $47,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia 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.

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