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May 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Mill Hall, Business Loans > Omega Bank Mill Hall Business Loans > General Automotive Repair Shops Loan | ||||
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Mill Hall, Pennsylvania SBA Lenders
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Entrepreneur Works With Mill Hall, Pennsylvania Bank to Get an SBA LoanThinking about meeting with a Mill Hall, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Mill Hall bank, that was approved by the SBA. Applying for an SBA loan with Omega Bank worked out well for our friends at one local company in Loganton, Pennsylvania. They received an SBA loan for $150,000. Way to go! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender OMEGA BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/27/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 6 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Advice on Getting a Small Business Loan SBA Banks in Mill Hall, Pennsylvania
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