First National Bank - Pennsylvania SBA Loan to Metal Service Centers And Metal Merchant Wholesalers Company

An SBA loan from First National Bank - Pennsylvania typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Youngstown, Ohio business owner got a $1,217,000 loan.

This business knew how to go about getting a business bank loan. Based in Youngstown, Ohio, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First National Bank - Pennsylvania, based in Greenville, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: METAL SERVICE CENTERS AND METAL MERCHANT WHOLESALERS
YOUNGSTOWN, OH 44509

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
166 MAIN ST
GREENVILLE, PA 16125

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423510 - Metal Service Centers and Metal Merchant Wholesalers

Loan Approval Date

9/4/2007

Loan Approval Gross Amount

$1,217,000

Loan Approval from the SBA

Of the total $1,217,000 loan amount, the SBA guaranteed $912,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 32 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 22 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank - Pennsylvania that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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