Drinking Places Small Business Loans
Looking for small business loans for drinking places? Try the SBA. This $580,000 drinking places loan was issued by a Pennsylvania bank.
This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Commonwealth Bank, out of Hollidaysburg, Pennsylvania. The loan was granted and they received $580,000 to help grow their Latrobe, Pennsylvania business.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
LATROBE, PA 15650
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5813 - Drinking Places
NAICS Code
722410 - Drinking Places
Loan Approval Date
7/18/2002
Loan Approval Gross Amount
$580,000
Loan Approval from the SBA
Of the total $580,000 loan amount, the SBA guaranteed $290,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 32 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, 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.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Commonwealth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Business Line of Credit
SBA 7A Lenders in Hollidaysburg, Pennsylvania
SBA Pennsylvania Lenders