Growing Company Gets a Pennsylvania SBA Loan

Bank loans in Pennsylvania are hard to find these days. We take a look at one Pennsylvania bank loan, provided by a Pennsylvania bank, that was approved by the SBA.

Getting a small business loan in Lemoyne, Pennsylvania was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Centric Bank. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LEMOYNE, PA 17043

SBA Loan Lender

CENTRIC BANK
3601 VARTAN WAY
HARRISBURG, PA 17110

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$33,719

Loan Approval from the SBA

Of the total $33,719 loan amount, the SBA guaranteed $26,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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SBA Banks in Harrisburg, Pennsylvania

Getting a Business Loan in Pennsylvania