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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Paper Mills Loan | ||||
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SBA Lender Hollidaysburg, Pennsylvania
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Hollidaysburg, Pennsylvania Bank Gives SBA Loan to Paper Mills CompanyThinking about meeting with a Hollidaysburg, Pennsylvania bank about a small business loan? Here's one Pennsylvania business loan, issued by a Hollidaysburg bank, that was approved by the SBA. Applying for an SBA loan with First Commonwealth Bank worked out well for our friends at one local company in Leetsdale, Pennsylvania. They got an SBA loan for $300,000. Great job! SBA Loan Borrower COMPANY TYPE: PAPER MILLS SBA Loan Lender FIRST COMMONWEALTH BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 322121 - Paper Mills Loan Approval Date 5/30/2006 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need emergency business money, 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks for Hollidaysburg, Pennsylvania Loans
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