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May 17, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Record And Prerecorded Tape Stores Loan | ||||
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National City Bank
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National City Bank SBA Loan to Record And Prerecorded Tape Stores CompanyNational City Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Bethel Park, Pennsylvania was an essential business goal for this small 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: RECORD AND PRERECORDED TAPE STORES SBA Loan Lender NATIONAL CITY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5735 - Record and Prerecorded Tape Stores NAICS Code 451220 - Prerecorded Tape, Compact Disc, and Record Stores Loan Approval Date 10/23/2001 Loan Approval Gross Amount $27,000 Loan Approval from the SBA Of the total $27,000 loan amount, the SBA guaranteed $22,950. 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 2 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Pittsburgh, Pennsylvania Find an SBA Lender in Pennsylvania
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