Where to Get Capital for Durable Goods Wholesalers

Looking for small business loans for durable goods wholesalers? The SBA may be the answer. This $31,050 durable goods wholesalers loan was issued by a Pennsylvania bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jeanette, Pennsylvania was able to borrow $31,050 from National City Bank. The SBA made the loan possible by guaranteeing $26,393 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS
JEANETTE, PA 15644

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5099 - Durable Goods

NAICS Code

421990 - Durable Goods Wholesalers

Loan Approval Date

6/13/2001

Loan Approval Gross Amount

$31,050

Loan Approval from the SBA

Of the total $31,050 loan amount, the SBA guaranteed $26,393.

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 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

How Equity Dilution Works

Best Erie, Pennsylvania Banks for Small Business

SBA Lenders in Pennsylvania