First Serv Bank A Division - SBA Loan to Machine Tools, Metal Cutting Types Company

First Serv Bank A Division - 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.

This business knew how to go about getting a business bank loan. Based in Langhorne, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First Serv Bank A Division -, based in Warminster, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
LANGHORNE, PA 19047

SBA Loan Lender

FIRST SERV BANK A DIVISION -
320 W STREET RD
WARMINSTER, PA 18974

This loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3541 - Machine Tools, Metal Cutting Types

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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