Kersey, Pennsylvania Business Gets SBA-Guaranteed Funding from National City Bank

National City Bank has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Kersey, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Erie, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: READY MIXED CONCRETE
KERSEY, PA 15846

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3273 - Ready Mixed Concrete

NAICS Code

327320 - Ready-Mix Concrete Manufacturing

Loan Approval Date

4/11/2001

Loan Approval Gross Amount

$224,000

Loan Approval from the SBA

Of the total $224,000 loan amount, the SBA guaranteed $168,000.

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 6 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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:

Small Business Credit Cards

Best Erie, Pennsylvania Banks for Small Business

Pennsylvania SBA Bank Lenders