First Commonwealth Bank Gives Bank Loan to Wood Office Furniture Company

Small business loans in Ohio are hard to find these days. We take a look at one Ohio small business loan, provided by a Pennsylvania bank, that was approved by the SBA.

Getting a small business loan in Hudson, Ohio was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE
HUDSON, OH 44236

SBA Loan Lender

FIRST COMMONWEALTH BANK
4750 CLAIRTON BLVD
PITTSBURGH, PA 15236

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

2521 - Wood Office Furniture

NAICS Code

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

11/7/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 10 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Commonwealth Bank and they will explain how you can get an SBA loan for your company.

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:

Famous Venture Capitalists

Small Bank Loans in Pittsburgh, Pennsylvania

SBA Lenders in Pennsylvania