National Penn Bank SBA Loan to Electrical Equipment And Component Manufacturing Company

An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Philadelphia, Pennsylvania business owner got a $700,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $700,000 from National Penn Bank. The SBA made the loan possible by guaranteeing $525,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
PHILADELPHIA, PA 19126

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

5/19/2003

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The loan application indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 National Penn 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 - Getting Venture Capital

Who Lends Money to Small Businesses in Boyertown, Pennsylvania

Where to Get an SBA Loan Pennsylvania