Business Loan from Ameriserv Financial Bank Given to Eating Places Company

An SBA loan from Ameriserv Financial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pittsburg, Pennsylvania business owner got a $132,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburg, Pennsylvania was able to borrow $132,000 from Ameriserv Financial Bank. The SBA made the loan possible by guaranteeing $112,200 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PITTSBURG, PA 15235

SBA Loan Lender

AMERISERV FINANCIAL BANK
112 S CHESTNUT ST
DERRY, PA 15627

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/18/2002

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $112,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ameriserv Financial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ameriserv Financial Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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