Company Gets a Pennsylvania Business Loan
Looking to get a Pennsylvania SBA loan? This Pennsylvania entrepreneur got an SBA loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.
Getting a small business loan in Coraopolis, Pennsylvania was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT
CORAOPOLIS, PA 15108
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
5047 - Medical, Dental and Hospital Equipment
446199 - Health and Personal Care Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $68,250 loan amount, the SBA guaranteed $58,012.
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 12 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
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.
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