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April 29, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Financial Investment Activities Loan | ||||
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Devon, Pennsylvania SBA 7A Banks
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Devon, Pennsylvania Bank Gives SBA Loan to Financial Investment Activities CompanyThinking about meeting with a Devon, Pennsylvania bank about a small business loan? Here's one Pennsylvania business loan, issued by a Devon bank, that was approved by the SBA. Applying for an SBA loan with Commerce Bank worked out well for our friends at one local company in Philadelphia, Pennsylvania. The business was able to get an SBA loan for $150,000. Way to go! SBA Loan Borrower COMPANY TYPE: FINANCIAL INVESTMENT ACTIVITIES SBA Loan Lender COMMERCE BANK 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 523999 - Financial Investment Activities Loan Approval Date 11/9/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 3 employees. The loan application indicated that the borrowed money would help create 3 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Lenders in Devon, Pennsylvania
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