Monroeville (corp. Name Munici, Pennsylvania Business Gets SBA-Guaranteed Funding from National City Bank

An SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Monroeville (corp. Name Munici, Pennsylvania business owner got a $15,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Monroeville (corp. Name Munici, Pennsylvania was able to borrow $15,000 from National City Bank. The SBA made the loan possible by guaranteeing $7,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE DEALERS
MONROEVILLE (CORP. NAME MUNICI, PA 15146

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

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.

SIC Code

5599 - Automotive Dealers

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

4/13/2000

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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