West Chester, Pennsylvania Business Gets SBA-Guaranteed Funding from First National Bank - Chester Cnty

An SBA loan from First National Bank - Chester Cnty typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Chester, Pennsylvania business owner got a $126,100 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank - Chester Cnty, out of West Chester, Pennsylvania. The loan was granted and they received $126,100 to help grow their West Chester, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
WEST CHESTER, PA 19380

SBA Loan Lender

FIRST NATIONAL BANK - CHESTER CNTY
9 N HIGH ST
WEST CHESTER, PA 19380

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.

SIC Code

7389 - Business Services

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

3/1/2002

Loan Approval Gross Amount

$126,100

Loan Approval from the SBA

Of the total $126,100 loan amount, the SBA guaranteed $107,185.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 First National Bank - Chester Cnty 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.

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