Bank Loans for Radio Stations

With these bank loans for radio stations, the SBA guarantees the lender that the loan will be repaid. This radio stations loan for $1,450,000 was given to a Pennsylvania entrepreneur in 2006.

This company knew how to go about getting a business bank loan. Based in Millersburg, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Freedom Bank, Inc., based in Belington, West Virginia.

SBA Loan Borrower

COMPANY TYPE: RADIO STATIONS
MILLERSBURG, PA 17061

SBA Loan Lender

FREEDOM BANK, INC.
315 CRIM AVE
BELINGTON, WV 26250

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 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

513112 - Radio Stations

Loan Approval Date

2/1/2006

Loan Approval Gross Amount

$1,450,000

Loan Approval from the SBA

Of the total $1,450,000 loan amount, the SBA guaranteed $1,087,500.

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 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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SBA Banks in Belington, West Virginia

Getting a Business Loan in West Virginia