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April 28, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Loan | ||||
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Examples of Pittsburgh SBA Loans
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Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Commercial LoansWith these commercial loans for jewelry, watch, precious stone, and precious metal merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This jewelry, watch, precious stone, and precious metal merchant wholesalers loan for $150,000 was given to a Pennsylvania entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburgh, Pennsylvania was able to borrow $150,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $75,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS SBA Loan Lender FIRST COMMONWEALTH BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Loan Approval Date 10/26/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 25 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Commonwealth Bank and they will explain how you can get an SBA loan for your company. 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: Small Business Banks in Hollidaysburg, Pennsylvania
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