SBA Loan from Preferred Capital Bidco, Inc. Helps Grocery Stores Company

Preferred Capital Bidco, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Lansdowne, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Preferred Capital Bidco, Inc., based in Wilmington, Delaware.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LANSDOWNE, PA 19050

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

5/12/2000

Loan Approval Gross Amount

$1,275,000

Loan Approval from the SBA

Of the total $1,275,000 loan amount, the SBA guaranteed $745,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Loan

SBA 7A Banks in Wilmington, Delaware

SBA Participating Banks in Delaware