Cresson, Pennsylvania Business Gets SBA-Guaranteed Funding from Ameriserv Financial Bank

An SBA loan from Ameriserv Financial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cresson, Pennsylvania business owner got a $140,000 loan.

Getting a small business loan in Cresson, Pennsylvania was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Ameriserv Financial Bank, operating out of Johnstown, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
CRESSON, PA 16630

SBA Loan Lender

AMERISERV FINANCIAL BANK
216 FRANKLIN ST
JOHNSTOWN, PA 15901

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

9/8/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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