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November 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Small Business Banks for Three Springs Small Businesses
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Small Business Loans for General Long-Distance Freight TruckingLooking for small business loans for general long-distance freight trucking? The SBA may be the answer. This $41,500 general long-distance freight trucking loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Three Springs, Pennsylvania was able to borrow $41,500 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $20,750 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender FIRST COMMONWEALTH BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 7/18/2002 Loan Approval Gross Amount $41,500 Loan Approval from the SBA Of the total $41,500 loan amount, the SBA guaranteed $20,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commonwealth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commonwealth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in Hollidaysburg, Pennsylvania
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