How to Get a Loan for Caterers

Looking for business loans for caterers? The SBA may be the answer. This $137,700 caterers loan was issued by a Pennsylvania bank.

Getting a small business loan in Leechburg, Pennsylvania was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Hollidaysburg, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
LEECHBURG, PA 15656

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

8/8/2006

Loan Approval Gross Amount

$137,700

Loan Approval from the SBA

Of the total $137,700 loan amount, the SBA guaranteed $117,045.

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 SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commonwealth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Small Bank Loans in Hollidaysburg, Pennsylvania

SBA Lenders in Pennsylvania