Butler, Pennsylvania Lender Lends Money to Eating Places Company

Get to know Butler, Pennsylvania banks that specialize in SBA loans and know how to work with entrepreneurs. Nextier Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Slippery Rock, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Nextier Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SLIPPERY ROCK, PA 16057

SBA Loan Lender

NEXTIER BANK
245 PITTSBURGH RD
BUTLER, PA 16001

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/8/2004

Loan Approval Gross Amount

$109,000

Loan Approval from the SBA

Of the total $109,000 loan amount, the SBA guaranteed $92,650.

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 31 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Nextier Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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