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May 17, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > General Merchandise Stores Loan | ||||
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Hermitage, Pennsylvania Bank Loan
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Commercial Loans for Warehouse Clubs and SuperstoresLooking for commercial loans for warehouse clubs and superstores? Talk to a banker who works with the SBA. This $75,000 warehouse clubs and superstores loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hermitage, Pennsylvania was able to borrow $75,000 from National City Bank. The SBA made the loan possible by guaranteeing $63,750 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender NATIONAL CITY BANK This lender issued this particular bank 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. SIC Code 5399 - General Merchandise Stores NAICS Code 452910 - Warehouse Clubs and Superstores Loan Approval Date 3/20/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Dealing With Venture Capitalists Who Lends Money to Small Businesses in Pittsburgh, Pennsylvania
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