SBA Loan from First Commonwealth Bank Helps Home Health Care Services Company
An SBA loan from First Commonwealth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Altoona, Pennsylvania business owner got a $300,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Altoona, Pennsylvania was able to borrow $300,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $150,000 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: HOME HEALTH CARE SERVICES
ALTOONA, PA 16601
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
621610 - Home Health Care Services
Loan Approval Date
4/21/2004
Loan Approval Gross Amount
$300,000
Loan Approval from the SBA
Of the total $300,000 loan amount, the SBA guaranteed $150,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Commonwealth 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.
Related Links:
How to Raise Money
Best Banks for Small Business in Hollidaysburg, Pennsylvania
Pennsylvania SBA Bank Lenders