Loans for Homes for the Elderly

With these loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $81,200 was given to a Pennsylvania entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waynesburg, Pennsylvania was able to borrow $81,200 from National City Bank. The SBA made the loan possible by guaranteeing $60,900 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
WAYNESBURG, PA 15370

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

11/3/2004

Loan Approval Gross Amount

$81,200

Loan Approval from the SBA

Of the total $81,200 loan amount, the SBA guaranteed $60,900.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 12 employees. The SBA loan documents did not indicate that the company 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City 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.

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SBA Banks in Erie, Pennsylvania

SBA Participating Banks in Pennsylvania