First National Bank - Pennsylvania SBA Loan to Support Services Company
First National Bank - Pennsylvania and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Hubbard, Ohio was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Pennsylvania, operating out of Hermitage, Pennsylvania. Here are the details on this Ohio small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT SERVICES
HUBBARD, OH 44425
SBA Loan Lender
FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148
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
561990 - Support Services
Loan Approval Date
1/21/2003
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
If you want money for new small business in Hubbard OH, you ought to talk with a local Hubbard SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hubbard businesses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Pennsylvania and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Business Cash Advances
SBA Banks in Hermitage, Pennsylvania
Pennsylvania SBA 7A Banks