Upper Darby, Pennsylvania Business Gets SBA-Guaranteed Funding from National Penn Bank

An SBA loan from National Penn Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Upper Darby, Pennsylvania business owner got a $95,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Upper Darby, Pennsylvania was able to borrow $95,000 from National Penn Bank. The SBA made the loan possible by guaranteeing $71,250 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
UPPER DARBY, PA 19082

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/21/2000

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $71,250.

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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Upper Darby PA, you ought to talk with a local Upper Darby SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Upper Darby businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National Penn Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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