Business Loan from National Penn Bank Given to Plastics And Rubber Industry Machinery Manufacturing Company

National Penn Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

Getting a small business loan in Somerset, New Jersey was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from National Penn Bank, operating out of Boyertown, Pennsylvania. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS AND RUBBER INDUSTRY MACHINERY MANUFACTURING
SOMERSET, NJ 08873

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333220 - Plastics and Rubber Industry Machinery Manufacturing

Loan Approval Date

1/15/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Penn Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Penn Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Banks in Boyertown, Pennsylvania

Pennsylvania SBA 7A Lenders