Commercial Loans for Residential Mental Health and Substance Abuse Facilities

With these commercial loans for residential mental health and substance abuse facilities, the SBA guarantees the lender that the loan will be repaid. This residential mental health and substance abuse facilities loan for $310,000 was given to a Pennsylvania entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Greensburg, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Irwin Bank, based in Irwin, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL MENTAL HEALTH AND SUBSTANCE ABUSE FACILITIES
GREENSBURG, PA 15601

SBA Loan Lender

IRWIN BANK
309 MAIN ST
IRWIN, PA 15642

This small business 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.

NAICS Code

623220 - Residential Mental Health and Substance Abuse Facilities

Loan Approval Date

1/23/2006

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 42 employees. The SBA loan documents did not indicate that the SBA funding recipient promised 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?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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