Growing Company Gets a Pennsylvania Business Loan
PennsylvaniaBank loans are available to Pennsylvania firms through the SBA. In this case, a Pennsylvania bank provides the loan.
By giving the right information to First Commonwealth Bank, this Pittsburgh, Pennsylvania business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
PITTSBURGH, PA 15237
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
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.
NAICS Code
236115 - New Single-Family Housing Construction
Loan Approval Date
9/29/2004
Loan Approval Gross Amount
$399,500
Loan Approval from the SBA
Of the total $399,500 loan amount, the SBA guaranteed $299,625.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
We can help you find the best banks for small businesses in Pittsburgh or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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Small Bank Loans in Hollidaysburg, Pennsylvania
SBA Lenders in Pennsylvania