First National Bank - Pennsylvania SBA Loan to Limited-Service Restaurants Company

An SBA loan from First National Bank - Pennsylvania typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Castle, Pennsylvania business owner got a $30,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First National Bank - Pennsylvania, out of Hermitage, Pennsylvania. The loan was granted and they received $30,000 to help grow their New Castle, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEW CASTLE, PA 16105

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/27/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 1 existing job.

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.

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:

The Art of Bootstrapping

Good Banks for Small Business in Hermitage, Pennsylvania

Pennsylvania SBA Bank Lenders