Altoona, Pennsylvania Lender Lends Money to Animal Specialty Services Company
Want to talk with an Altoona, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by an Altoona bank, that was approved by the SBA.
Applying for an SBA loan with C & G Savings Bank worked out well for our friends at one local firm in Hollidaysburg, Pennsylvania. They got an SBA loan for $55,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: ANIMAL SPECIALTY SERVICES
HOLLIDAYSBURG, PA 16648
SBA Loan Lender
C & G SAVINGS BANK
1201 12TH ST
ALTOONA, PA 16601
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0752 - Animal Specialty Services
NAICS Code
812910 - Pet Care Services
Loan Approval Date
8/13/2002
Loan Approval Gross Amount
$55,000
Loan Approval from the SBA
Of the total $55,000 loan amount, the SBA guaranteed $46,750.
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 did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must 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:
Business Incubators
SBA Banks in Altoona, Pennsylvania
Where to Get an SBA Loan Pennsylvania