Homes for the Elderly Commercial Loans

With these commercial loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $120,000 was given to a Pennsylvania entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Omega Bank, out of Mill Hall, Pennsylvania. The loan was granted and they received $120,000 to help grow their Pottersdale, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
POTTERSDALE, PA 16871

SBA Loan Lender

OMEGA BANK
349 MAIN ST
MILL HALL, PA 17751

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

10/4/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

SBA Approved Banks in Mill Hall, Pennsylvania

Getting an SBA Loan in Pennsylvania