Pennsylvania SBA Loan Issued to Eating Places Company

Business loans in Pennsylvania are hard to find these days. We take a look at one Pennsylvania business loan, provided by a Pennsylvania bank, that was approved by the SBA.

You can learn something about getting a small business loan in Pittsburgh, Pennsylvania by studying this loan to a local business, made back in 2004. Banks like Dollar Bank A Fed. Savings Bk may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PITTSBURGH, PA 15237

SBA Loan Lender

DOLLAR BANK A FED. SAVINGS BK
THREE GATEWAY CTR-1 EAST
PITTSBURGH, PA 15222

This debt financing 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/15/2004

Loan Approval Gross Amount

$99,000

Loan Approval from the SBA

Of the total $99,000 loan amount, the SBA guaranteed $74,250.

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 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.

Next Steps for Getting an SBA Loan

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. Dollar Bank A Fed. Savings Bk had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Dollar Bank A Fed. Savings Bk 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.

Related Links:

Financing Your Business

Good Banks for Small Business in Pittsburgh, Pennsylvania

Pennsylvania SBA Banks