Business Loan from Mellon Bank Given to Retail Stores Company

An SBA loan from Mellon Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Upper Darby, Pennsylvania business owner got a $25,000 loan.

Getting a small business loan in Upper Darby, Pennsylvania was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Mellon Bank, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
UPPER DARBY, PA 19082

SBA Loan Lender

MELLON BANK
500 GRANT ST, ONE MELLON CTR
PITTSBURGH, PA 15219

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

11/28/2001

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. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - Friends and Family

Small Bank Loans in Pittsburgh, Pennsylvania

Getting an SBA Loan in Pennsylvania