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May 18, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Scranton, Business Loans > Pennstar Bank, A Division Of Scranton Business Loans > Business Services Loan | ||||
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Scranton Business Loan from Pennstar Bank, A Division Of
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Scranton, Pennsylvania Business Gets SBA-Guaranteed Funding from Pennstar Bank, A Division OfPennstar Bank, A Division Of has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Pennstar Bank, A Division Of, out of Scranton, Pennsylvania. The loan was granted and they received $35,000 to help grow their Scranton, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender PENNSTAR BANK, A DIVISION OF This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 541410 - Interior Design Services Loan Approval Date 7/2/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. 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 SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Best Scranton, Pennsylvania Banks for Small Business Browse All Business Loan Sources for Pennsylvania
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