Business Loan from Lafayette Ambassador Bank Given to Department Stores Company

Lafayette Ambassador Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bethlehem, Pennsylvania was able to borrow $270,000 from Lafayette Ambassador Bank. The SBA made the loan possible by guaranteeing $202,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DEPARTMENT STORES
BETHLEHEM, PA 18018

SBA Loan Lender

LAFAYETTE AMBASSADOR BANK
360 NORTHAMPTON ST
EASTON, PA 18020

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452110 - Department Stores

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Bethlehem PA, you ought to talk with a local Bethlehem SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bethlehem businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lafayette Ambassador Bank and they will explain how you can get an SBA loan for your company.

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

SBA 7A Banks in Easton, Pennsylvania

SBA Pennsylvania Lenders