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December 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Direct Selling Establishments Loan | ||||
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First Commonwealth Bank
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Irwin, Pennsylvania Business Gets SBA-Guaranteed Funding from First Commonwealth BankFirst Commonwealth Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Irwin, Pennsylvania was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Hollidaysburg, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender FIRST COMMONWEALTH BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 1/18/2005 Loan Approval Gross Amount $18,700 Loan Approval from the SBA Of the total $18,700 loan amount, the SBA guaranteed $9,350. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Remember, you 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commonwealth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Hollidaysburg, Pennsylvania
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