Get an SBA Loan for New Single-Family Housing Construction
Looking for loans for new single-family housing construction? Talk to a banker who works with the SBA. This $312,000 new single-family housing construction loan was issued by a Pennsylvania bank.
This company knew how to go about getting a business bank loan. Based in Wexford, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Commonwealth Bank, based in Hollidaysburg, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
WEXFORD, PA 15090
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
236115 - New Single-Family Housing Construction
Loan Approval Date
12/14/2004
Loan Approval Gross Amount
$312,000
Loan Approval from the SBA
Of the total $312,000 loan amount, the SBA guaranteed $234,000.
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 30 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $312,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Find Start-Up Capital
SBA Banks in Hollidaysburg, Pennsylvania
Getting an SBA Loan in Pennsylvania