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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Single-Family Housing Construction Loan | ||||
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I Need an SBA 7A Loan in Wexford, Pennsylvania
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Where to Get Capital for New Single-Family Housing ConstructionLooking for small business loans for new single-family housing construction? Talk to a banker who works with the SBA. This $466,000 new single-family housing construction loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wexford, Pennsylvania was able to borrow $466,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $349,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender FIRST COMMONWEALTH BANK 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. SIC Code 1521 - Single-Family Housing Construction NAICS Code 236115 - New Single-Family Housing Construction Loan Approval Date 11/24/2004 Loan Approval Gross Amount $466,000 Loan Approval from the SBA Of the total $466,000 loan amount, the SBA guaranteed $349,500. 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 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commonwealth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Hollidaysburg, Pennsylvania
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