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April 29, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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National City Bank Business Loans
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National City Bank SBA Loan to General Contracting For Nonresidential Buildings CompanyAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saxonburg, Pennsylvania business owner got a $100,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saxonburg, Pennsylvania was able to borrow $100,000 from National City Bank. The SBA made the loan possible by guaranteeing $85,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 8/27/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks for Indianapolis, Indiana Loans
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