Getting an SBA Loan for Industrial Supplies Wholesalers

Looking for commercial loans for industrial supplies wholesalers? Try the SBA. This $1,140,000 industrial supplies wholesalers loan was issued by a Pennsylvania bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Johnstown, Pennsylvania was able to borrow $1,140,000 from Ameriserv Financial Bank. The SBA made the loan possible by guaranteeing $749,995 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES
JOHNSTOWN, PA 16866

SBA Loan Lender

AMERISERV FINANCIAL BANK
216 FRANKLIN ST
JOHNSTOWN, PA 15901

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to ensure expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5085 - Industrial Supplies

NAICS Code

421840 - Industrial Supplies Wholesalers

Loan Approval Date

1/31/2000

Loan Approval Gross Amount

$1,140,000

Loan Approval from the SBA

Of the total $1,140,000 loan amount, the SBA guaranteed $749,995.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Ameriserv Financial 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:

Accountant's Role in Securing Financing

Find an SBA Lender in Johnstown, Pennsylvania

SBA Participating Banks in Pennsylvania