Bank Loans for Machine Shops

With these bank loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $405,000 was given to a Pennsylvania entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tarentum, Pennsylvania was able to borrow $405,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $303,750 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
TARENTUM, PA 15084

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$405,000

Loan Approval from the SBA

Of the total $405,000 loan amount, the SBA guaranteed $303,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

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

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Incubators

Good Banks for Small Business in Hollidaysburg, Pennsylvania

Getting an SBA Loan in Pennsylvania