Amusement Arcades Loans

With these loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $300,000 was given to a Pennsylvania entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Monroeville, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Ameriserv Financial Bank, based in Johnstown, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES
MONROEVILLE, PA 15146

SBA Loan Lender

AMERISERV FINANCIAL BANK
216 FRANKLIN ST
JOHNSTOWN, PA 15901

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 loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7993 - Coin-Operated Amusement Devices

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

8/5/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 22 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Monroeville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How Equity Dilution Works

SBA Participating Banks in Johnstown, Pennsylvania

Pennsylvania SBA 7A Lenders