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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > York, Business Loans > York Traditions Bank York Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Musical Instrument and Supplies Stores Commercial LoansWith these commercial loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $100,000 was given to a Pennsylvania entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shrewsbury, Pennsylvania was able to borrow $100,000 from York Traditions Bank. The SBA made the loan possible by guaranteeing $85,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES SBA Loan Lender YORK TRADITIONS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 4/2/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 9 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me! 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: A Company That Helps Entrepreneurs SBA Banks in York, Pennsylvania
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