Johnstown, Pennsylvania Bank Lends Money to Communications Services Company in Nanty Glo, Pennsylvania

Get to know Johnstown, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Usbancorp Tr & Finan Services is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Nanty Glo, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Usbancorp Tr & Finan Services. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATIONS SERVICES
NANTY GLO, PA 15943

SBA Loan Lender

USBANCORP TR & FINAN SERVICES
216 FRANKLIN ST
JOHNSTOWN, PA 15901

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4899 - Communications Services

NAICS Code

513340 - Satellite Telecommunications

Loan Approval Date

11/22/2000

Loan Approval Gross Amount

$8,000

Loan Approval from the SBA

Of the total $8,000 loan amount, the SBA guaranteed $6,400.

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

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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