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May 11, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Somerset, Business Loans > Somerset Trust Company Somerset Business Loans > Funeral Service And Crematories Loan | ||||
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SBA Lender Somerset
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Somerset, Pennsylvania Bank Gives SBA Loan to Funeral Service And Crematories CompanyA Somerset, Pennsylvania small business loan can be yours. Learn how a business got a $40,000 business loan from this Pennsylvania bank. This loan to an entrepreneur is a good example of an SBA loan. Somerset Trust Company made the loan and the SBA guaranteed a portion of the loan. Many other Pennsylvania entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES SBA Loan Lender SOMERSET TRUST COMPANY The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7261 - Funeral Service and Crematories NAICS Code 812210 - Funeral Homes and Funeral Services Loan Approval Date 3/29/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Somerset Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Somerset Trust Company 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: Best Somerset, Pennsylvania Banks for Small Business
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