Financing for Hardware Stores

With these commercial loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $100,000 was given to a Pennsylvania entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Bolivar, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Commonwealth Bank, based in Indiana, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
BOLIVAR, PA 15923

SBA Loan Lender

FIRST COMMONWEALTH BANK
600 PHILADELPHIA ST
INDIANA, PA 15701

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

7/13/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commonwealth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commonwealth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA 7A Banks in Indiana, Pennsylvania

Getting an SBA Loan in Pennsylvania