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May 3, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Norwood, Business Loans > Rbs Citizens Norwood Business Loans > Single Family Housing Construction Loan | ||||
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PA SBA Loan from Rbs Citizens
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Business Loan from Rbs Citizens Given to Single Family Housing Construction CompanyRbs Citizens has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in College Hill, Pennsylvania was able to borrow $5,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $2,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION SBA Loan Lender RBS CITIZENS This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 233210 - Single Family Housing Construction Loan Approval Date 5/15/2003 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: SBA Banks in Norwood, Massachusetts
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