SBA Loan from First Commonwealth Bank Helps General Merchandise Stores Company
First Commonwealth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.
This growing company knew how to go about getting a business bank loan. Based in Pittsburgh, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was First Commonwealth Bank, based in Hollidaysburg, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: GENERAL MERCHANDISE STORES
PITTSBURGH, PA 15237
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
452990 - General Merchandise Stores
Loan Approval Date
8/2/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 86 employees. The SBA loan documents indicated that the loan would help retain 86 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Commonwealth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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