Pennsylvania Bank Loan Issued to Lessors Of Nonresidential Buildings Company
Bank loans in Pennsylvania are tough to come by these days. We take a look at one Pennsylvania bank loan, provided by a Pennsylvania bank, that was approved by the SBA.
You can learn something about getting a small business loan in Ford City, Pennsylvania by studying this loan to a local company, made back in 2004. Banks like First Commonwealth Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
FORD CITY, PA 16226
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
531120 - Lessors of Nonresidential Buildings
Loan Approval Date
7/15/2004
Loan Approval Gross Amount
$136,000
Loan Approval from the SBA
Of the total $136,000 loan amount, the SBA guaranteed $68,000.
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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your 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:
Getting a Small Business Loan
Best Banks for Small Business in Hollidaysburg, Pennsylvania
Pennsylvania SBA Banks