Business Loan from National Penn Bank Given to Personal And Household Goods Repair And Maintenance Company

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 Springfield, Pennsylvania business owner got a $25,000 loan.

This business knew how to go about getting a business bank loan. Based in Springfield, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was National Penn Bank, based in Boyertown, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: PERSONAL AND HOUSEHOLD GOODS REPAIR AND MAINTENANCE
SPRINGFIELD, PA 19064

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Springfield PA, you ought to talk with a local Springfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springfield businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National Penn Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Understanding Dilution

Banks in Boyertown, Pennsylvania

Pennsylvania SBA 7A Lenders