 |
 |
May 1, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hermitage, Business Loans > First National Bank - Pennsylvania Hermitage Business Loans > Scorcher's Casual Eatery & Dra Loan | ||||
 |
||||
Small Business Banks for Erie Small Businesses
|
||||
 |
First National Bank - Pennsylvania Provides SBA Loan to Buy Scorchers FranchiseNeed money to invest in a Scorchers franchise? First National Bank - Pennsylvania has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Scorchers franchise may simply require a phone call to a local SBA banker. In 2004, First National Bank - Pennsylvania issued an SBA franchise loan to an entrepreneur in Erie, Pennsylvania. Because Scorchers was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis. SBA Loan Borrower SCORCHER'S CASUAL EATERY & DRA SBA Loan Lender FIRST NATIONAL BANK - PENNSYLVANIA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 5/10/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Scorchers franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help retain 141 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 First National Bank - Pennsylvania 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: Family and Friend Investors - Your First Financiers SBA Banks in Hermitage, Pennsylvania SBA Participating Banks in Pennsylvania
|
|
||
|
||||
|
|
||||