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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 > Drug Stores And Proprietary Stores Loan | ||||
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I Need an SBA Loan in New Stanton, Pennsylvania
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Borrowing Money for Pharmacies and Drug StoresLooking for loans for pharmacies and drug stores? Try the SBA. This $150,000 pharmacies and drug stores loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Stanton, Pennsylvania was able to borrow $150,000 from National City Bank. The SBA made the loan possible by guaranteeing $127,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA launched 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 4/24/2003 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. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Pittsburgh, Pennsylvania
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