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May 13, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Eating Places Loan | ||||
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How to Get an SBA Loan in Souderton, Pennsylvania
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Souderton, Pennsylvania Entrepreneur Gets a Small Business LoanWould a Pennsylvania bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New York bank, which offers SBA loans to Pennsylvania entrepreneurs. This business, based in Souderton, Pennsylvania, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Manufacturers & Traders Trust. We've got the inside scoop on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/23/2001 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source 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 $55,000 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: Where to Get an SBA Loan in Amherst, New York
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