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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 > Physicians Loan | ||||
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Erie SBA Loans
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Pennsylvania Small Business Loan Issued to Physicians CompanyWant 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 Erie, Pennsylvania was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 621111 - Physicians Loan Approval Date 5/6/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan If you want money for new small 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. 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: Borrowing Money from Friends and Family Best Pittsburgh, Pennsylvania Banks for Small Business
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