Financing for Electronic and Precision Equipment Repair and Maintenance
With these commercial loans for electronic and precision equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This electronic and precision equipment repair and maintenance loan for $115,000 was given to a Pennsylvania entrepreneur in 2002.
This business knew how to go about getting a business bank loan. Based in Monogahela, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was National City Bank, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS
MONOGAHELA, PA 15063
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
7629 - Electrical and Electronic Repair Shops
811219 - Electronic and Precision Equipment Repair and Maintenance
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $115,000 loan amount, the SBA guaranteed $97,750.
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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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.
How to Raise Money
Best Banks for Small Business in Pittsburgh, Pennsylvania
Pennsylvania SBA 7A Lenders