First Commonwealth Bank Gives Bank Loan to Chiropractors Company

SBA loans in Pennsylvania are are few and far betweeen these days. We take a look at one Pennsylvania SBA loan, provided by a Pennsylvania bank, that was approved by the SBA.

This small business, based in Punxsutawney, Pennsylvania, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Commonwealth Bank. We've got the inside scoop on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
PUNXSUTAWNEY, PA 15767

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

621310 - Chiropractors

Loan Approval Date

1/4/2005

Loan Approval Gross Amount

$38,900

Loan Approval from the SBA

Of the total $38,900 loan amount, the SBA guaranteed $19,450.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you need business start up money in Punxsutawney PA, you ought to talk with a local Punxsutawney SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Punxsutawney businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commonwealth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Hollidaysburg, Pennsylvania

Pennsylvania SBA 7A Lenders