SBA Loan from Portage National Bank Helps Full-Service Restaurants Company

An SBA loan from Portage National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Johnstown, Pennsylvania business owner got a $60,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Portage National Bank, out of Ebensburg, Pennsylvania. The loan was granted and they received $60,000 to help grow their Johnstown, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JOHNSTOWN, PA 15905

SBA Loan Lender

PORTAGE NATIONAL BANK
325 INDUSTRIAL PARK RD
EBENSBURG, PA 15931

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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