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May 16, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Philadelphia, Business Loans > Citizens Bank Of Pennsylvania Philadelphia Business Loans > Drycleaning And Laundry Services Loan | ||||
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East Stroudsburg, Pennsylvania Bank Loan
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Getting an SBA Loan for Drycleaning and Laundry ServicesLooking for commercial loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $10,000 drycleaning and laundry services loan was issued by a Pennsylvania bank. This business knew how to go about getting a business bank loan. Based in East Stroudsburg, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Citizens Bank Of Pennsylvania, based in Philadelphia, Pennsylvania. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender CITIZENS BANK OF PENNSYLVANIA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812320 - Drycleaning and Laundry Services Loan Approval Date 10/31/2003 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Bank Of Pennsylvania and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan SBA Participating Banks in Philadelphia, Pennsylvania
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