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May 11, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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How to Get SBA Loans in Butler, Pennsylvania
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Hobby, Toy, and Game Stores LoansWith these loans for hobby, toy, and game stores, the SBA guarantees the lender that the loan will be repaid. This hobby, toy, and game stores loan for $60,000 was given to a Pennsylvania entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Butler, Pennsylvania was able to borrow $60,000 from National City Bank. The SBA made the loan possible by guaranteeing $30,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 4/1/2005 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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 2 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to find other ways to get money to start a business, 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Pittsburgh, Pennsylvania Getting a Business Loan in Pennsylvania
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