Wilmington Savings Fund Societ SBA Loan to Retail Stores Company

An SBA loan from Wilmington Savings Fund Societ typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Claymont, Delaware business owner got a $70,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Claymont, Delaware was able to borrow $70,000 from Wilmington Savings Fund Societ. The SBA made the loan possible by guaranteeing $59,500 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
CLAYMONT, DE 19703

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

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

5999 - Retail Stores

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 3 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilmington Savings Fund Societ had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilmington Savings Fund Societ 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 - How to Decide How Much to Raise

Small Business Banks in Wilmington, Delaware

SBA Delaware Lenders