State College, Pennsylvania Business Gets SBA-Guaranteed Funding from National Penn Bank

National Penn Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with National Penn Bank, out of Boyertown, Pennsylvania. The loan was granted and they received $90,000 to help grow their State College, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: PLASTERING, DRYWALL, AND INSULATION
STATE COLLEGE, PA 16803

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1742 - Plastering, Drywall, and Insulation

NAICS Code

238310 - Drywall and Insulation Contractors

Loan Approval Date

5/18/2006

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Attracting Investors

Good Banks for Small Business in Boyertown, Pennsylvania

Getting an SBA Loan in Pennsylvania