New Castle, Pennsylvania Lender Lends Money to Dance Studios, Schools, And Halls Company

Get SBA loans from a New Castle, Pennsylvania bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Firstmerit Bank is a New Castle, Pennsylvania small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Pennsylvania company.

SBA Loan Borrower

COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS
SHARON, PA 16146

SBA Loan Lender

FIRSTMERIT BANK
25 N MILL ST
NEW CASTLE, PA 16101

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.

SIC Code

7911 - Dance Studios, Schools, and Halls

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$46,000

Loan Approval from the SBA

Of the total $46,000 loan amount, the SBA guaranteed $36,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for New Castle, Pennsylvania Loans

Getting a Business Loan in Pennsylvania