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May 9, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Direct Selling Establishments Loan | ||||
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Ge Cap. Small Business Finan Corp SBA Loans Lancaster, PA
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Lancaster, Pennsylvania Business Gets SBA-Guaranteed Funding from Ge Cap. Small Business Finan CorpAn SBA loan from Ge Cap. Small Business Finan Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lancaster, Pennsylvania business owner got a $98,500 loan. This growing company knew how to go about getting a business bank loan. Based in Lancaster, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Ge Cap. Small Business Finan Corp, based in St. Louis, Missouri. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 1/12/2001 Loan Approval Gross Amount $98,500 Loan Approval from the SBA Of the total $98,500 loan amount, the SBA guaranteed $83,725. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Raising VC Money for Social Networking Companies SBA 7A Banks for St. Louis, Missouri Loans
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