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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Boyertown, Business Loans > National Penn Bank Boyertown Business Loans > Eating Places Loan | ||||
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Pennsylvania SBA Lenders
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Boyertown, Pennsylvania Bank Lends Money to Eating Places Company in Wyckoff, New JerseyThinking about meeting with a Boyertown, Pennsylvania bank about an SBA loan? Here's one New Jersey business loan, issued by a Boyertown bank, that was approved by the SBA. Applying for an SBA loan with National Penn Bank worked out well for our friends at one local business in Wyckoff, New Jersey. The business was able to get an SBA loan for $150,000. Awesome! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NATIONAL PENN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize 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 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/10/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Find an SBA Lender in Boyertown, Pennsylvania
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