Financing for Heavy Construction

With these commercial loans for heavy construction, the SBA guarantees the lender that the loan will be repaid. This heavy construction loan for $35,000 was given to a Pennsylvania entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with National City Bank, out of Erie, Pennsylvania. The loan was granted and they received $35,000 to help grow their Connellsville, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
CONNELLSVILLE, PA 15425

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

234990 - Heavy Construction

Loan Approval Date

2/22/2001

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 5 employees. This SBA loan request indicated that the funding would help generate 5 new jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 National City Bank 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.

Related Links:

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SBA Approved Banks in Erie, Pennsylvania

SBA Pennsylvania Banks