Financing for Iron Ore Mining

With these commercial loans for iron ore mining, the SBA guarantees the lender that the loan will be repaid. This iron ore mining loan for $100,000 was given to a Pennsylvania entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Brighton, Pennsylvania was able to borrow $100,000 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $50,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON ORE MINING
NEW BRIGHTON, PA 15066

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

212210 - Iron Ore Mining

Loan Approval Date

2/2/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, things become real when you believe you can achieve them!

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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Small Bank Loans in Hermitage, Pennsylvania

SBA Participating Banks in Pennsylvania