SBA Loan from Pennstar Bank, A Division Of Helps Building Cleaning And Maintenance Services, N.E.C Company
Pennstar Bank, A Division Of is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sterling, Pennsylvania was able to borrow $77,000 from Pennstar Bank, A Division Of. The SBA made the loan possible by guaranteeing $61,600 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: BUILDING CLEANING AND MAINTENANCE SERVICES, N.E.C
STERLING, PA 18460
SBA Loan Lender
PENNSTAR BANK, A DIVISION OF
214 W HARFORD ST
MILFORD, PA 18337
This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7349 - Building Cleaning and Maintenance Services, N.E.C
NAICS Code
561720 - Janitorial Services
Loan Approval Date
11/13/2000
Loan Approval Gross Amount
$77,000
Loan Approval from the SBA
Of the total $77,000 loan amount, the SBA guaranteed $61,600.
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 13 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $77,000 loan. Remember, fight for what you want, and it will be yours!
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:
Getting a Small Business Loan
SBA 7A Banks in Milford, Pennsylvania
Where to Get an SBA Loan Pennsylvania