Greensburg, Pennsylvania Lender Lends Money to Electric Services Company

Thinking about meeting with a Greensburg, Pennsylvania bank about a business loan? Here's one Pennsylvania business loan, issued by a Greensburg bank, that was approved by the SBA.

Applying for an SBA loan with Commercial Bank & Trust Of Pa worked out well for our friends at one local company in Charleroi, Pennsylvania. They got an SBA loan for $120,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: ELECTRIC SERVICES
CHARLEROI, PA 15022

SBA Loan Lender

COMMERCIAL BANK & TRUST OF PA
19 N MAIN ST
GREENSBURG, PA 15601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4911 - Electric Services

NAICS Code

221111 - Hydroelectric Power Generation

Loan Approval Date

5/16/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commercial Bank & Trust Of Pa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Banks in Greensburg, Pennsylvania

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