Firm Gets a Pennsylvania Bank Loan
Looking to get a Pennsylvania small business loan? This Pennsylvania entrepreneur got a small business loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.
This small business, based in Butler, Pennsylvania, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Iron And Glass Bank. We've got the inside scoop on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: FLOWERS, NURSERY STOCK, AND FLORISTS SUPPLIES
BUTLER, PA 16002
SBA Loan Lender
IRON AND GLASS BANK
1114 E CARSON ST
PITTSBURGH, PA 15203
This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
5193 - Flowers, Nursery Stock, and Florists Supplies
444220 - Nursery and Garden Centers
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 10 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.
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.
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