Commercial Loans for New Single-Family Housing Construction

With these commercial loans for new single-family housing construction, the SBA guarantees the lender that the loan will be repaid. This new single-family housing construction loan for $168,375 was given to a Pennsylvania entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Nittany Bank, A Division Of, out of State College, Pennsylvania. The loan was granted and they received $168,375 to help grow their Boalsburg, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
BOALSBURG, PA 16827

SBA Loan Lender

NITTANY BANK, A DIVISION OF
116 E COLLEGE AVE
STATE COLLEGE, PA 16801

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

10/19/2005

Loan Approval Gross Amount

$168,375

Loan Approval from the SBA

Of the total $168,375 loan amount, the SBA guaranteed $126,281.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Cash Advances

Who Lends Money to Small Businesses in State College, Pennsylvania

SBA Pennsylvania Banks