Commercial Loans for Residential Care Facilities

With these commercial loans for residential care facilities, the SBA guarantees the lender that the loan will be repaid. This residential care facilities loan for $55,000 was given to a Pennsylvania entrepreneur in 2003.

Getting a small business loan in Twin Rocks, Pennsylvania was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Pennsylvania, operating out of Johnstown, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
TWIN ROCKS, PA 15960

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
532-534 MAIN ST
JOHNSTOWN, PA 15901

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

7/1/2003

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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. The SBA loan documents did not indicate that the small business promised to use the funding 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Angel Investors

Small Bank Loans in Johnstown, Pennsylvania

Pennsylvania SBA 7A Lenders