State College, Pennsylvania Business Gets SBA-Guaranteed Funding from Nittany Bank, A Division Of

An SBA loan from Nittany Bank, A Division Of typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a State College, Pennsylvania business owner got a $50,000 loan.

This small firm knew how to go about getting a business bank loan. Based in State College, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Nittany Bank, A Division Of, based in State College, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: INTERIOR DESIGN SERVICES
STATE COLLEGE, PA 16801

SBA Loan Lender

NITTANY BANK, A DIVISION OF
1900 S ATHERTON ST
STATE COLLEGE, PA 16801

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541410 - Interior Design Services

Loan Approval Date

8/30/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Nittany Bank, A Division Of that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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