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May 2, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Republic First Bank Philadelphia Business Loans > Power Laundries, Family And Commercial Loan | ||||
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Tips for Businesses On Getting a Loan
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Drycleaning and Laundry Services Business LoansLooking for business loans for drycleaning and laundry services? Try the SBA. This $300,000 drycleaning and laundry services loan was issued by a Pennsylvania bank. This small business knew how to go about getting a business bank loan. Based in Whitehall, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Republic First Bank, based in Philadelphia, Pennsylvania. SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender REPUBLIC FIRST BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7211 - Power Laundries, Family and Commercial NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 4/27/2006 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 2 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Philadelphia, Pennsylvania Banks for Small Business SBA Participating Banks in Pennsylvania
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