Small Business Loans for Drywall, Plastering, Acoustical, and Insulation Contractors

With these small business loans for drywall, plastering, acoustical, and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall, plastering, acoustical, and insulation contractors loan for $1,410,000 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greensburg, Pennsylvania was able to borrow $1,410,000 from Enterprise Bank. The SBA made the loan possible by guaranteeing $999,972 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTERING, DRYWALL, AND INSULATION
GREENSBURG, PA 15601

SBA Loan Lender

ENTERPRISE BANK
4091 MOUNT ROYAL BLVD
ALLISON PARK, PA 15101

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1742 - Plastering, Drywall, and Insulation

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

5/7/2001

Loan Approval Gross Amount

$1,410,000

Loan Approval from the SBA

Of the total $1,410,000 loan amount, the SBA guaranteed $999,972.

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 132 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to 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.

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:

Attracting Investors

SBA 7A Banks in Allison Park, Pennsylvania

Where to Get an SBA Loan Pennsylvania