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November 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Power Boiler And Heat Exchanger Manufacturing Loan | ||||
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Banks That Lend to New Kensington Entrepreneurs
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New Kensington, Pennsylvania Entrepreneur Gets an SBA LoanBank loans in Pennsylvania are hard to find these days. We take a look at one Pennsylvania bank loan, provided by a New York bank, that was approved by the SBA. By giving the right information to Business Loan Center, LLC, this New Kensington, Pennsylvania business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: POWER BOILER AND HEAT EXCHANGER MANUFACTURING SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332410 - Power Boiler and Heat Exchanger Manufacturing Loan Approval Date 12/10/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 46 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 55 existing jobs. Next Steps for Getting an SBA Loan Remember, you 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in New York, New York
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