National City Bank Gives Bank Loan to Electrical Work Company

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.

You can learn something about getting a small business loan in Meadville, Pennsylvania by studying this loan to a local company, made back in 2004. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
MEADVILLE, PA 16335

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1731 - Electrical Work

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

12/13/2004

Loan Approval Gross Amount

$153,330

Loan Approval from the SBA

Of the total $153,330 loan amount, the SBA guaranteed $114,998.

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 19 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $153,330 loan. Remember, if it to be, it is up to me!

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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