SBA Loan from First Commonwealth Bank Helps Business Services 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 Huntingdon, Pennsylvania business owner got a $52,350 loan.

This growing company knew how to go about getting a business bank loan. Based in Huntingdon, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First Commonwealth Bank, based in Hollidaysburg, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
HUNTINGDON, PA 16652

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$52,350

Loan Approval from the SBA

Of the total $52,350 loan amount, the SBA guaranteed $41,880.

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 3 employees. The SBA loan documents 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?

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:

Small Business Credit Cards

SBA Approved Banks in Hollidaysburg, Pennsylvania

SBA Participating Banks in Pennsylvania