Pittsburgh, Pennsylvania Lender Lends Money to Tax Return Preparation Services Company
Get to know Pittsburgh, Pennsylvania banks that specialize in small business loans and know how to work with entrepreneurs. First Commonwealth Bank is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Pittsburgh, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First Commonwealth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: TAX RETURN PREPARATION SERVICES
PITTSBURGH, PA 15241
SBA Loan Lender
FIRST COMMONWEALTH BANK
4750 CLAIRTON BLVD
PITTSBURGH, PA 15236
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
7291 - Tax Return Preparation Services
541213 - Tax Preparation Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $105,900 loan amount, the SBA guaranteed $90,015.
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 3 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
Although it's called an SBA loan, 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $105,900 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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.
Role of Business Plan When Raising Money
Best Banks for Small Business in Pittsburgh, Pennsylvania
Pennsylvania SBA 7A Lenders