SBA Loan from First National Bank - Pennsylvania Helps Specialized Local Freight Trucking Company
First National Bank - Pennsylvania is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Altoona, Pennsylvania was able to borrow $122,200 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $91,650 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
ALTOONA, PA 16601
SBA Loan Lender
FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
484220 - Specialized Local Freight Trucking
Loan Approval Date
1/31/2003
Loan Approval Gross Amount
$122,200
Loan Approval from the SBA
Of the total $122,200 loan amount, the SBA guaranteed $91,650.
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 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We've showcased information on this loan to let you know that businesses like yours 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:
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SBA Approved Banks in Hermitage, Pennsylvania
Pennsylvania SBA Bank Lenders