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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 > Full-Service Restaurants Loan | ||||
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How Do We Get a Business Loan in Philadelphia, Pennsylvania?
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Full-Service Restaurants LoansLooking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $400,000 full-service restaurants loan was issued by a Pennsylvania bank. Getting a small business loan in Philadelphia, Pennsylvania was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Devon, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMERCE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/22/2003 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 only one employee. The loan application indicated that the loan would help generate 9 new jobs and retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Devon, Pennsylvania Banks for Small Business
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