Somerset, Pennsylvania Entrepreneur Gets a Bank Loan
Looking to get a Pennsylvania business loan? This Pennsylvania entrepreneur got a business loan, provided by a New York bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Somerset, Pennsylvania by studying this loan to a local business, made back in 2006. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
SOMERSET, PA 15501
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238210 - Electrical Contractors and Wiring Installation Contractors
Loan Approval Date
2/2/2006
Loan Approval Gross Amount
$475,000
Loan Approval from the SBA
Of the total $475,000 loan amount, the SBA guaranteed $356,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 40 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
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SBA 7A Lenders in Amherst, New York
Find an SBA Lender in New York