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November 25, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Du Bois, Business Loans > S & T Bank Du Bois Business Loans > Offices And Clinics Of Optometrists Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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How to Get a Loan for OptometristsWith these commercial loans for optometrists, the SBA guarantees the lender that the loan will be repaid. This optometrists loan for $95,000 was given to a Pennsylvania entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Punxsutawney, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was S & T Bank, based in Du Bois, Pennsylvania. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF OPTOMETRISTS SBA Loan Lender S & T BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8042 - Offices and Clinics of Optometrists NAICS Code 621320 - Optometrists Loan Approval Date 9/18/2003 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $80,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money 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 S & T 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Du Bois, Pennsylvania
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