Support Services Bank Loans
With these bank loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $247,066 was given to a Pennsylvania entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in State College, Pennsylvania was able to borrow $247,066 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $185,300 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT SERVICES
STATE COLLEGE, PA 16803
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This SBA small business loan 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.
NAICS Code
561990 - Support Services
Loan Approval Date
5/24/2004
Loan Approval Gross Amount
$247,066
Loan Approval from the SBA
Of the total $247,066 loan amount, the SBA guaranteed $185,300.
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 16 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Commonwealth Bank and they will explain how you can get an SBA loan for your company.
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:
Bank Credit Lines
Good Banks for Small Business in Hollidaysburg, Pennsylvania
Where to Get an SBA Loan Pennsylvania