Oil City, Pennsylvania Business Gets SBA-Guaranteed Funding from National City Bank

National City Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Oil City, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was National City Bank, based in Erie, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONER OFFICE OR CLINIC
OIL CITY, PA 16301

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8049 - Health Practitioner Office or Clinic

NAICS Code

621391 - Podiatrists

Loan Approval Date

8/26/2002

Loan Approval Gross Amount

$198,500

Loan Approval from the SBA

Of the total $198,500 loan amount, the SBA guaranteed $148,875.

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

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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SBA Approved Banks in Erie, Pennsylvania

Pennsylvania SBA 7A Lenders