Somerset, Pennsylvania Bank Gives SBA Loan to Waterproof Outerwear Company

Want to talk with a Somerset, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Somerset bank, that was approved by the SBA.

Applying for an SBA loan with Somerset Trust Company worked out well for our friends at one local company in Somerset, Pennsylvania. They got an SBA loan for $240,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: WATERPROOF OUTERWEAR
SOMERSET, PA 15501

SBA Loan Lender

SOMERSET TRUST COMPANY
151 W MAIN ST
SOMERSET, PA 15501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2385 - Waterproof Outerwear

NAICS Code

315299 - Cut and Sew Apparel Manufacturing

Loan Approval Date

1/31/2003

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

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 21 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 Lenders in Somerset, Pennsylvania

Browse All Business Loan Sources for Pennsylvania