Getting an SBA Loan for Nursing Care Facilities

With these commercial loans for nursing care facilities, the SBA guarantees the lender that the loan will be repaid. This nursing care facilities loan for $1,485,000 was given to a Pennsylvania entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Somerset Trust Company, out of Somerset, Pennsylvania. The loan was granted and they received $1,485,000 to help grow their Johnstown, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
JOHNSTOWN, PA 15901

SBA Loan Lender

SOMERSET TRUST COMPANY
151 W MAIN ST
SOMERSET, PA 15501

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$1,485,000

Loan Approval from the SBA

Of the total $1,485,000 loan amount, the SBA guaranteed $1,113,750.

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

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Somerset Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Somerset Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - Friends and Family

Small Bank Loans in Somerset, Pennsylvania

SBA Pennsylvania Lenders