Small Business Loans for School and Employee Bus Transportation

With these small business loans for school and employee bus transportation, the SBA guarantees the lender that the loan will be repaid. This school and employee bus transportation loan for $70,000 was given to a Pennsylvania entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Alexander, Pennsylvania was able to borrow $70,000 from Main Street Bank Corp.. The SBA made the loan possible by guaranteeing $52,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOL BUSES
WEST ALEXANDER, PA 15376

SBA Loan Lender

MAIN STREET BANK CORP.
2001 MAIN ST, STE 100
WHEELING, WV 26003

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4151 - School Buses

NAICS Code

485410 - School and Employee Bus Transportation

Loan Approval Date

8/25/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $52,500.

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 30 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $70,000 loan. Remember, you control your own destiny.

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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