SBA Loan from First Commonwealth Bank Helps Manufacturing Company

An SBA loan from First Commonwealth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Greensburg, Pennsylvania business owner got a $250,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Commonwealth Bank, out of Hollidaysburg, Pennsylvania. The loan was granted and they received $250,000 to help grow their Greensburg, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
GREENSBURG, PA 15601

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

This lender processed this SBA 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

339999 - Manufacturing

Loan Approval Date

9/15/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 47 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commonwealth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commonwealth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks in Hollidaysburg, Pennsylvania

Getting an SBA Loan in Pennsylvania