How to Get a Loan for Elementary and Secondary Schools
Looking for business loans for elementary and secondary schools? An SBA loan may be just what you've been looking for. This $600,000 elementary and secondary schools loan was issued by a Pennsylvania bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ebensburg, Pennsylvania was able to borrow $600,000 from Portage National Bank. The SBA made the loan possible by guaranteeing $450,000 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS
EBENSBURG, PA 15931
SBA Loan Lender
PORTAGE NATIONAL BANK
325 INDUSTRIAL PARK RD
EBENSBURG, PA 15931
This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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
611110 - Elementary and Secondary Schools
Loan Approval Date
1/9/2003
Loan Approval Gross Amount
$600,000
Loan Approval from the SBA
Of the total $600,000 loan amount, the SBA guaranteed $450,000.
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 30 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Portage National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Angel Investors
Small Bank Loans in Ebensburg, Pennsylvania
Where to Get an SBA Loan Pennsylvania