First Commonwealth Bank Provides SBA Loan to Buy Snap-On-Tools Franchise
Borrowing money to invest in a Snap-On-Tools franchise? First Commonwealth Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Bedford, Pennsylvania needed money to invest in a Snap-On-Tools franchise back in 2003. First Commonwealth Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
JAY A AND SARAH K BAKER
BEDFORD, PA 15522
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
454390 - Direct Selling Establishments
Loan Approval Date
7/1/2003
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $75,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help retain 1 existing job.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
We've showcased information on this loan to let you know that businesses like yours 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:
Snap-on-Tools Company
Advice on Getting a Small Business Loan
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Find an SBA Lender in Pennsylvania