Local Business Gets a Pennsylvania SBA Loan

Searching for a Pennsylvania business loan? This Pennsylvania entrepreneur got a business loan, provided by a Delaware bank that works with the SBA to help small business owners.

This small business, based in West Chester, Pennsylvania, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Preferred Capital Bidco, Inc.. We've got the inside scoop on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES
WEST CHESTER, PA 19382

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$107,000

Loan Approval from the SBA

Of the total $107,000 loan amount, the SBA guaranteed $90,950.

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 2 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Preferred Capital Bidco, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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