Pittsburgh, Pennsylvania Lender Lends Money to Computer Related Services Company
Thinking about meeting with a Pittsburgh, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Pittsburgh bank, that was approved by the SBA.
Applying for an SBA loan with National City Bank worked out well for our friends at one local business in Erie, Pennsylvania. The business was able to get an SBA loan for $21,895. Way to go!
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
ERIE, PA 16507
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This lender issued this particular SBA 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.
7379 - Computer Related Services
541512 - Computer Systems Design Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $21,895 loan amount, the SBA guaranteed $18,610.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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.
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