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April 24, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Erie, Business Loans > National City Bank Erie Business Loans > Bruster's Old Fashioned Ice Cr Loan | ||||
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Canonsburg, Pennsylvania Bank Loan
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National City Bank Provides SBA Loan to Buy Bruster's FranchiseBorrowing money to invest in a Bruster's franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Canonsburg, Pennsylvania needed money to invest in a Bruster's franchise back in 2000. National City Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower BRUSTER'S OLD FASHIONED ICE CR SBA Loan Lender NATIONAL CITY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 3/17/2000 Loan Approval Gross Amount $193,000 Loan Approval from the SBA Of the total $193,000 loan amount, the SBA guaranteed $144,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Family and Friend Investors - Your First Financiers Best Banks for Small Business in Erie, Pennsylvania
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