Business Loan from Somerset Trust Company Given to Eating Places Company

Somerset Trust Company has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Somerset, Pennsylvania was able to borrow $250,000 from Somerset Trust Company. The SBA made the loan possible by guaranteeing $187,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SOMERSET, PA 15501

SBA Loan Lender

SOMERSET TRUST COMPANY
151 W MAIN ST
SOMERSET, PA 15501

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/14/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 15 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

Small Business Banks in Somerset, Pennsylvania

SBA Participating Banks in Pennsylvania