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May 16, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Lake Ariel, Business Loans > Pennstar Bank, A Division Of Lake Ariel Business Loans > Eating Places Loan | ||||
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Stroudsburg Business Loan from Pennstar Bank, A Division Of
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Business Loan from Pennstar Bank, A Division Of Given to Eating Places CompanyAn SBA loan from Pennstar Bank, A Division Of typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stroudsburg, Pennsylvania business owner got a $100,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pennstar Bank, A Division Of, out of Lake Ariel, Pennsylvania. The loan was granted and they received $100,000 to help grow their Stroudsburg, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PENNSTAR BANK, A DIVISION OF This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/15/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 11 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, anyone can do it... so why not you? 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 Lake Ariel, Pennsylvania Banks for Small Business Getting a Business Loan in Pennsylvania
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