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May 12, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Somerset, Business Loans > Somerset Trust Company Somerset Business Loans > Sporting Goods Stores Loan | ||||
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Small Business Banks for Berlin Small Business Owners
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Sporting Goods Stores SBA LoansWith these SBA loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $59,000 was given to a Pennsylvania entrepreneur in 2004. This business knew how to go about getting a business bank loan. Based in Berlin, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Somerset Trust Company, based in Somerset, Pennsylvania. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender SOMERSET TRUST COMPANY This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/8/2004 Loan Approval Gross Amount $59,000 Loan Approval from the SBA Of the total $59,000 loan amount, the SBA guaranteed $50,150. 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 application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banks in Somerset, Pennsylvania Getting an SBA Loan in Pennsylvania
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