Outdoor Power Equipment Stores Commercial Loans

With these commercial loans for outdoor power equipment stores, the SBA guarantees the lender that the loan will be repaid. This outdoor power equipment stores loan for $639,519 was given to a Pennsylvania entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Sewickley, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Enterprise Bank, based in Allison Park, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
SEWICKLEY, PA 15143

SBA Loan Lender

ENTERPRISE BANK
4091 MOUNT ROYAL BLVD
ALLISON PARK, PA 15101

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5261 - Retail Nurseries, Lawn and Garden Supply Stores

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

8/2/2002

Loan Approval Gross Amount

$639,519

Loan Approval from the SBA

Of the total $639,519 loan amount, the SBA guaranteed $479,639.

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 24 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Allison Park, Pennsylvania

Getting a Business Loan in Pennsylvania