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May 19, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Norristown, Business Loans > Citizens Bank Of Pennsylvania Norristown Business Loans > Plastics Products Loan | ||||
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SBA Lenders in Pennsylvania
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Plastics Product Manufacturing SBA LoansWith these SBA loans for plastics product manufacturing, the SBA guarantees the lender that the loan will be repaid. This plastics product manufacturing loan for $95,250 was given to a Pennsylvania entrepreneur in 2001. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citizens Bank Of Pennsylvania, out of Norristown, Pennsylvania. The loan was granted and they received $95,250 to help grow their Shillington, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCTS SBA Loan Lender CITIZENS BANK OF PENNSYLVANIA This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3089 - Plastics Products NAICS Code 326199 - Plastics Product Manufacturing Loan Approval Date 12/5/2001 Loan Approval Gross Amount $95,250 Loan Approval from the SBA Of the total $95,250 loan amount, the SBA guaranteed $80,962. 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 2 employees. 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. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Citizens Bank Of Pennsylvania 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: Best Banks in Norristown, Pennsylvania
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