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May 7, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Beauty Shops Loan | ||||
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Pennsylvania Bank SBA Loans
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Wyomissing, Pennsylvania Bank Lends Money to Beauty Shops Company in Philadelphia, PennsylvaniaFind Wyomissing, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Sovereign Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Philadelphia, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Sovereign Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender SOVEREIGN BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 11/7/2000 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $78,750. 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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We've showcased information on this loan to let you know that businesses like yours 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: Determining Proper Capital Structure for a Business Best Wyomissing, Pennsylvania Banks for Small Business
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