Bank Loans for Home Centers

With these bank loans for home centers, the SBA guarantees the lender that the loan will be repaid. This home centers loan for $90,000 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Erie, Pennsylvania was able to borrow $90,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $76,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
ERIE, PA 16505

SBA Loan Lender

RBS CITIZENS
191 SOCIAL ST
WOONSOCKET, RI 02895

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

NAICS Code

444110 - Home Centers

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Erie PA, you ought to talk with a local Erie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Erie businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Rbs Citizens so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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