Pennsylvania Business Loan Issued to Wood Product Manufacturing Company
Looking to get a Pennsylvania bank loan? This Pennsylvania entrepreneur got a bank loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.
Getting a small business loan in Everett, Pennsylvania was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: WOOD PRODUCT MANUFACTURING
EVERETT, PA 15557
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This lender processed this 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
321999 - Wood Product Manufacturing
Loan Approval Date
1/17/2003
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
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 4 employees. This SBA loan request indicated that the loan would help retain 1 existing job.
Getting an SBA Loan For Your Business
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
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 First Commonwealth 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:
The Friends and Family Network
Banks in Hollidaysburg, Pennsylvania
Pennsylvania SBA 7A Lenders