Raising Money for Truck Trailer Manufacturing

Looking for bank loans for truck trailer manufacturing? The SBA may be the answer. This $273,237 truck trailer manufacturing loan was issued by a Pennsylvania bank.

This company 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 $273,237 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

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 commercial loans to American small businesses.

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

11/10/2004

Loan Approval Gross Amount

$273,237

Loan Approval from the SBA

Of the total $273,237 loan amount, the SBA guaranteed $204,928.

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 SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Windber PA, you ought to talk with a local Windber SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Windber businesses.

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:

Startup Funding Tip

SBA 7A Banks in Somerset, Pennsylvania

Pennsylvania SBA 7A Lenders