SBA Loan from Somerset Trust Company Helps Truck Trailers Company

An SBA loan from Somerset Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Windber, Pennsylvania business owner got a $372,454 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Somerset Trust Company, out of Somerset, Pennsylvania. The loan was granted and they received $372,454 to help grow their Windber, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: TRUCK TRAILERS
WINDBER, PA 15963

SBA Loan Lender

SOMERSET TRUST COMPANY
151 W MAIN ST
SOMERSET, PA 15501

This bank loan 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.

SIC Code

3715 - Truck Trailers

NAICS Code

336212 - Truck Trailer Manufacturing

Loan Approval Date

4/29/2004

Loan Approval Gross Amount

$372,454

Loan Approval from the SBA

Of the total $372,454 loan amount, the SBA guaranteed $279,341.

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 72 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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 Somerset Trust Company 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:

The Art of Bootstrapping

Banks in Somerset, Pennsylvania

Pennsylvania SBA Banks