Bank Loans for Wrecking and Demolition Contractors
Looking for bank loans for wrecking and demolition contractors? Try the SBA. This $188,000 wrecking and demolition contractors loan was issued by a Pennsylvania bank.
Getting a small business loan in Carnegie, Pennsylvania was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Hollidaysburg, Pennsylvania. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: WRECKING AND DEMOLITION CONTRACTORS
CARNEGIE, PA 15106
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235940 - Wrecking and Demolition Contractors
Loan Approval Date
7/10/2002
Loan Approval Gross Amount
$188,000
Loan Approval from the SBA
Of the total $188,000 loan amount, the SBA guaranteed $141,000.
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 40 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
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:
Business Cash Advances
Who Lends Money to Small Businesses in Hollidaysburg, Pennsylvania
Pennsylvania SBA 7A Lenders