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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Computer Related Services Loan | ||||
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Banks Doing SBA Loans in Pennsylvania
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Pittsburgh, Pennsylvania Lender Lends Money to Computer Related Services CompanyThinking about meeting with a Pittsburgh, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Pittsburgh bank, that was approved by the SBA. Applying for an SBA loan with National City Bank worked out well for our friends at one local business in Erie, Pennsylvania. The business was able to get an SBA loan for $21,895. Way to go! SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender NATIONAL CITY BANK This lender issued this particular SBA 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 7379 - Computer Related Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 9/24/2002 Loan Approval Gross Amount $21,895 Loan Approval from the SBA Of the total $21,895 loan amount, the SBA guaranteed $18,610. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Determining Proper Capital Structure for a Business Best Banks in Pittsburgh, Pennsylvania Browse All Business Loan Sources for Pennsylvania
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