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May 19, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Amusement And Recreation Services Loan | ||||
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Who Can Get a Business Loan in Rochester, Pennsylvania?
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Getting an SBA Loan for Sports and Recreation InstructionWith these commercial loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $120,000 was given to a Pennsylvania entrepreneur in 2001. Getting a small business loan in Rochester, Pennsylvania was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender NATIONAL CITY BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 611620 - Sports and Recreation Instruction Loan Approval Date 11/2/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Pittsburgh, Pennsylvania
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