S & T Bank SBA Loan to Nondurable Goods Company

Looking to get a Pennsylvania SBA loan? Here's one Pennsylvania business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with S & T Bank, out of Pittsburgh, Pennsylvania. The loan was granted and they received $30,000 to help grow their Latrobe, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
LATROBE, PA 15650

SBA Loan Lender

S & T BANK
2388 RTE 286
PITTSBURGH, PA 15239

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

Loan Approval Date

7/12/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. S & T Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, S & T Bank 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:

How Equity Dilution Works

Best Banks for Small Business in Pittsburgh, Pennsylvania

SBA Lenders in Pennsylvania