SBA Loan from First National Bank - Pennsylvania Helps Industrial And Commercial Machinery And Equipment Company
First National Bank - Pennsylvania and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Johnstown, Pennsylvania was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Pennsylvania, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
JOHNSTOWN, PA 15902
SBA Loan Lender
FIRST NATIONAL BANK - PENNSYLVANIA
1712 E CARSON ST
PITTSBURGH, PA 15203
This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
3599 - Industrial and Commercial Machinery and Equipment
336399 - Motor Vehicle Parts Manufacturing
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $130,000 loan amount, the SBA guaranteed $110,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 11 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source
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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