Local Business Gets a Pennsylvania Small Business Loan

PennsylvaniaBusiness loans are available to Pennsylvania business owners through the SBA. In this case, a Pennsylvania bank provides the loan.

Getting a small business loan in Ambridge, Pennsylvania was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
AMBRIDGE, PA 15003

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
671 THIRD ST
BEAVER, PA 15009

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

3/25/2003

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 82 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Microlending as a Small Business Funding Source

SBA Banks in Beaver, Pennsylvania

Getting an SBA Loan in Pennsylvania