Borrowing Money for Plate Work Manufacturing

Looking for loans for plate work manufacturing? Try the SBA. This $960,000 plate work manufacturing loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Sharpsville, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First National Bank - Pennsylvania, based in Hermitage, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FABRICATED PLATE WORK
SHARPSVILLE, PA 16150

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3443 - Fabricated Plate Work

NAICS Code

332313 - Plate Work Manufacturing

Loan Approval Date

12/31/2001

Loan Approval Gross Amount

$960,000

Loan Approval from the SBA

Of the total $960,000 loan amount, the SBA guaranteed $720,000.

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 23 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 First National Bank - Pennsylvania 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:

Famous Venture Capitalists

SBA 7A Banks in Hermitage, Pennsylvania

SBA Participating Banks in Pennsylvania