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May 10, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Drinking Places Loan | ||||
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Souderton, Pennsylvania Bank Loan
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Souderton, Pennsylvania Entrepreneur Gets a Bank LoanBank loans in Pennsylvania are hard to find these days. We take a look at one Pennsylvania bank loan, provided by a Virginia bank, that was approved by the SBA. You can learn something about getting a small business loan in Souderton, Pennsylvania by studying this loan to a local company, made back in 2003. Banks like Business Loan Center, LLC may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BUSINESS LOAN CENTER, LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 1/2/2003 Loan Approval Gross Amount $287,000 Loan Approval from the SBA Of the total $287,000 loan amount, the SBA guaranteed $215,250. 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. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Business Banks in Richmond, Virginia Where to Get an SBA Loan Virginia
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