Entrepreneur Works With Clarks Summit, Pennsylvania Bank to Get an SBA Loan

Find Clarks Summit, Pennsylvania banks that specialize in small business loans and know how to work with entrepreneurs. Community Bank & Trust is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Carbondale, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Community Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CARBONDALE, PA 18407

SBA Loan Lender

COMMUNITY BANK & TRUST
125 N STATE ST
CLARKS SUMMIT, PA 18411

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/27/2004

Loan Approval Gross Amount

$52,250

Loan Approval from the SBA

Of the total $52,250 loan amount, the SBA guaranteed $44,412.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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