Royersford, Pennsylvania Entrepreneur Gets a Business Loan

Searching for a Pennsylvania business loan? This Pennsylvania entrepreneur got a business loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.

This business, based in Royersford, Pennsylvania, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from National Penn Bancshares, Inc.. We've got the inside scoop on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
ROYERSFORD, PA 19460

SBA Loan Lender

NATIONAL PENN BANCSHARES, INC.
PHILADELPHIA & READING AVE
BOYERTOWN, PA 19512

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

7/25/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Royersford PA, you ought to talk with a local Royersford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Royersford businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National Penn Bancshares, Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Boyertown, Pennsylvania

Pennsylvania SBA Banks