West Chester, 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 growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with National Penn Bank, out of Boyertown, Pennsylvania. The loan was granted and they received $320,000 to help grow their West Chester, Pennsylvania business.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
WEST CHESTER, PA 19380
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5084 - Industrial Machinery and Equipment
NAICS Code
421710 - Hardware Wholesalers
Loan Approval Date
10/5/2000
Loan Approval Gross Amount
$320,000
Loan Approval from the SBA
Of the total $320,000 loan amount, the SBA guaranteed $240,000.
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 8 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
We can help you find the best banks for small businesses in West Chester or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Banking Deregulation's Effects on Entrepreneurship
SBA Participating Banks in Boyertown, Pennsylvania
SBA Lenders in Pennsylvania