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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Used Car Dealers Loan | ||||
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Business Loans for Roaring Spring Small Business Owners
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Raising Money for Used Car DealersLooking for business loans for used car dealers? The SBA may be the answer. This $97,000 used car dealers loan was issued by a Pennsylvania bank. Getting a small business loan in Roaring Spring, Pennsylvania was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Hollidaysburg, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender FIRST COMMONWEALTH BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 3/30/2001 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $82,450. 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 application for the borrower indicated that the loan would help create 1 new job. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Roaring Spring PA, you ought to talk with a local Roaring Spring SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Roaring Spring businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Hollidaysburg, Pennsylvania
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