 |
 |
May 9, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Eating Places Loan | ||||
 |
||||
Feasterville, Pennsylvania Bank for SBA Loans
|
||||
 |
Full-Service Restaurants Business LoansLooking for business loans for full-service restaurants? The SBA may be the answer. This $50,000 full-service restaurants loan was issued by a Pennsylvania bank. This small business knew how to go about getting a business bank loan. Based in Feasterville, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Sovereign Bank, based in Wyomissing, Pennsylvania. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SOVEREIGN BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 10/12/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Good Banks for Small Business in Wyomissing, Pennsylvania
|
|
||
|
||||
|
|
||||