Johnstown, PA Entrepreneur Gets SBA Loan to Buy Candy Express Franchise

Need money to buy a Candy Express franchise? First Commonwealth Bank has a history of making these loans and they are guaranteed by the SBA.

Candy Express franchise loans are available to Johnstown, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Commonwealth Bank, based in Hollidaysburg, Pennsylvania, issued an SBA franchise loan for a Candy Express franchise in 2002. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

STRALCO INC
JOHNSTOWN, PA 15904

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

5/16/2002

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Candy Express franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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:

Candy Express

Strategic Investors

SBA 7A Banks in Hollidaysburg, Pennsylvania

SBA Lenders in Pennsylvania