Pennsylvania Entrepreneur Secures Financing to Buy Allstate Insurance Franchise

Need money to invest in an Allstate Insurance franchise? Ameriserv Financial Bank has a history of making these loans and they are guaranteed by the SBA.

Allstate Insurance franchise loans are available to Pittsburgh, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Ameriserv Financial Bank, based in Derry, Pennsylvania, issued an SBA franchise loan for an Allstate Insurance franchise in 2001. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

RITA'S ITALIAN ICE
PITTSBURGH, PA 15235

SBA Loan Lender

AMERISERV FINANCIAL BANK
112 S CHESTNUT ST
DERRY, PA 15627

This SBA business loan 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

722211 - Limited-Service Restaurants

Loan Approval Date

1/29/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Allstate Insurance franchise. At the time of the loan, the company had 45 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Allstate Insurance

Attracting Investors

Small Business Banks in Derry, Pennsylvania

SBA Participating Banks in Pennsylvania