First National Bank - Pennsylvania SBA Loan to Eating Places Company

Searching for a Pennsylvania small business loan? Here's one Pennsylvania business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburgh, Pennsylvania was able to borrow $100,000 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $75,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PITTSBURGH, PA 15212

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
100 FEDERAL ST
PITTSBURGH, PA 15212

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/7/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 11 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Pittsburgh PA, you ought to talk with a local Pittsburgh SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pittsburgh businesses.

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.

Related Links:

How to Raise Money

Who Lends Money to Small Businesses in Pittsburgh, Pennsylvania

Where to Get an SBA Loan Pennsylvania