Entrepreneur Works With Monroeville, Pennsylvania Bank to Get an SBA Loan

Thinking about meeting with a Monroeville, Pennsylvania bank about a business loan? Here's one Pennsylvania business loan, issued by a Monroeville bank, that was approved by the SBA.

Applying for an SBA loan with Standard Bank, Pasb worked out well for our friends at one local business in Ruffsdale, Pennsylvania. They received an SBA loan for $128,700. Awesome!

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
RUFFSDALE, PA 15679

SBA Loan Lender

STANDARD BANK, PASB
2640 MONROEVILLE RD
MONROEVILLE, PA 15146

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

4/15/2004

Loan Approval Gross Amount

$128,700

Loan Approval from the SBA

Of the total $128,700 loan amount, the SBA guaranteed $109,395.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $128,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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