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May 13, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Boyertown, Business Loans > National Penn Bank Boyertown Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Advice for Small Businesses On Getting a Loan
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How to Get a Loan for Sporting Goods StoresLooking for SBA loans for sporting goods stores? An SBA loan may be just what you've been looking for. This $86,000 sporting goods stores loan was issued by a Pennsylvania bank. Getting a small business loan in Pottstown, Pennsylvania was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from National Penn Bank, operating out of Boyertown, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender NATIONAL PENN BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/21/2000 Loan Approval Gross Amount $86,000 Loan Approval from the SBA Of the total $86,000 loan amount, the SBA guaranteed $68,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $86,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Good Banks for Small Business in Boyertown, Pennsylvania
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