SBA Loan from First Commonwealth Bank Helps Physicians, Mental Health Specialists Company
An SBA loan from First Commonwealth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Seven Fields, Pennsylvania business owner got a $112,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seven Fields, Pennsylvania was able to borrow $112,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $56,000 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: PHYSICIANS, MENTAL HEALTH SPECIALISTS
SEVEN FIELDS, PA 16046
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
621112 - Physicians, Mental Health Specialists
Loan Approval Date
3/23/2005
Loan Approval Gross Amount
$112,000
Loan Approval from the SBA
Of the total $112,000 loan amount, the SBA guaranteed $56,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Commonwealth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Startup Funding Tip
SBA Participating Banks in Hollidaysburg, Pennsylvania
Where to Get an SBA Loan Pennsylvania