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December 20, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Indiana, Business Loans > First Commonwealth Bank Indiana Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Indiana Bank Loan
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Indiana, Pennsylvania Lender Lends Money to Supermarkets And Grocery Stores CompanyThinking about meeting with an Indiana, Pennsylvania bank about a small business loan? Here's one Pennsylvania business loan, issued by an Indiana bank, that was approved by the SBA. Applying for an SBA loan with First Commonwealth Bank worked out well for our friends at one local firm in Canonsburg, Pennsylvania. They received an SBA loan for $324,900. Great job! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender FIRST COMMONWEALTH BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 9/19/2007 Loan Approval Gross Amount $324,900 Loan Approval from the SBA Of the total $324,900 loan amount, the SBA guaranteed $162,450. 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 130 employees. The SBA loan application for the borrower indicated that the loan would help generate 130 new jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: The Friends and Family Network Good Banks for Small Business in Indiana, Pennsylvania
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