Business Loan from First Lib Bank & Trust A Divisio Given to Repair Shops And Related Services Company

First Lib Bank & Trust A Divisio is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Lib Bank & Trust A Divisio, out of Laceyville, Pennsylvania. The loan was granted and they received $64,000 to help grow their Meshoppen, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
MESHOPPEN, PA 18630

SBA Loan Lender

FIRST LIB BANK & TRUST A DIVISIO
101 MAIN ST
LACEYVILLE, PA 18623

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

11/5/2002

Loan Approval Gross Amount

$64,000

Loan Approval from the SBA

Of the total $64,000 loan amount, the SBA guaranteed $54,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Lib Bank & Trust A Divisio and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Laceyville, Pennsylvania

Getting a Business Loan in Pennsylvania