State College, Pennsylvania Bank Gives SBA Loan to Management Services Company

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

Nittany Bank, A Division Of is a State College, 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: MANAGEMENT SERVICES
STATE COLLEGE, PA 16801

SBA Loan Lender

NITTANY BANK, A DIVISION OF
2541 E COLLEGE AVE
STATE COLLEGE, PA 16801

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8741 - Management Services

NAICS Code

234930 - Industrial Nonbuilding Structure Construction

Loan Approval Date

12/30/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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