Business Loan from First National Bank - Pennsylvania Given to Hotels And Motels 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 Grove City, Pennsylvania business owner got a $15,000 loan.
This business knew how to go about getting a business bank loan. Based in Grove City, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First National Bank - Pennsylvania, based in Hermitage, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
GROVE CITY, PA 16127
SBA Loan Lender
FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
11/28/2001
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $7,500.
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 documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank - Pennsylvania and they will explain how you can get an SBA loan for your company.
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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