Loans - AWARD SUMMARY


FINANTA


The Micro Loan is a tool that allows us to help out small business owners in the Philadelphia County, which have problems getting financing through traditional channels.These micro loans will infuse capital into these businesses, which is part of FINANTA's mission of supporting economic growth and success of local businesses.

Clarification of Codes

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AWARD OVERVIEW

AWARD OVERVIEW
Award Number 3572615007 Funding Agency Small Business Administration
Total Award Amount $750,000 Project Location - City Philadelphia
Award Date 08/13/2009 Project Location - State PA
Project Status Completed Project Location - Zip 19122-4305
Jobs Reported 8.00 Congressional District 01
Project Location - Country US

Recipient Information (Loans)

Recipient Information (Loans)
Recipient Name FINANTA
Recipient DUNS Number 013901942
Recipient Address 1301 N 2ND ST
Recipient City PHILADELPHIA
Recipient State Pennsylvania
Recipient Zip 19122-4503
Recipient Congressional District 01
Recipient Country USA
Required to Report Top 5
Highly Compensated Officials		 No

Projects and Jobs Information

Projects and Jobs Information
Project Title Micro Loan
Project Status Completed
Final Project Report Submitted Yes
Project Activities Description Community Economic Development
Quarterly Activities/Project Description This quarter we closed 37 loans for a total of $359,400 through the SBA program. We were able to reach our expectations because the borrowers were having a difficult time getting finance through traditional banking institutions. The funds allowed the borrowers to purchase equipment, retain some employees or hire employees, purchase inventory, marketing and working capital. Without these SBA funds being available, the borrowers would not have been able to continue to succeed and expand in their businesses.
Jobs Created 8.00
Description of Jobs Created 8 jobs were created/retained in this quarter with SBA funds.


Purchaser Information (Loans)

Purchaser Information
Contracting Office ID Not Reported
Contracting Office Name Not Available
Contracting Office Region Not Available
TAS Major Program 73-4279

Award Information

Award Information
Award Date 08/13/2009
Award Number 3572615007
Order Number
Award Type Loans
Funding Agency ID 73
Funding Agency Name Small Business Administration
Funding Office Name Not Available
Awarding Agency ID 73
Awarding Agency Name Small Business Administration
Amount of Award $750,000
Funds Invoiced/Received $750,000
Expenditure Amount $750,000
Infrastructure Expenditure Amount $284,312
Infrastructure Purpose and Rationale Funds were used to buy equipment for the borrowers businesses. The new equipment will allow the businesses to increase their profitability in order to remain stable and generate more revenues and employment.
Infrastructure Point of Contact Name Not Reported
Infrastructure Point of Contact Email Not Reported
Infrastructure Point of Contact Phone Not Reported
Infrastructure Point of Contact Address Not Reported
Infrastructure Point of Contact City Not Reported
Infrastructure Point of Contact State Not Reported
Infrastructure Point of Contact Zip Not Reported

Product or Service Information (Loans)

Product or Service Information
Primary Activity Code S02
Activity Description Community Economic Development

Sub-Awards Information

Sub-Awards Information
Sub-awards to Organizations 0
Sub-award Amounts to Organizations $0
Sub-Awards to Individuals 0
Sub-Award Amounts to Individuals $0
Number of Sub-awards less than $25,000/award 0
Amount of Sub-awards less than $25,000/award $0
Number of payments to vendors greater than $25,000 0
Total Amount of payments to vendors greater than $25,000/award $0
Number of payments to vendors less than $25,000/award 0
Total Amount of payments to vendors less than $25,000/award $0







Project Location Detail

Location Information
Latitude, Longitude 39º 58' 15", -75º 8' 21"
Congressional District 01
Address 1 1301 N. 2nd Street
Address 2
City Philadelphia
County Philadelphia
State PA
Zip 19122-4305
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