Pet Care Services Commercial Loans
Looking for commercial loans for pet care services? The SBA may be the answer. This $20,500 pet care services loan was issued by a Pennsylvania bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scott Towncenter, Pennsylvania was able to borrow $20,500 from National City Bank. The SBA made the loan possible by guaranteeing $17,425 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: ANIMAL SPECIALTY SERVICES
SCOTT TOWNCENTER, PA 15220
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a Low Documentation SBA loan. The SBA started this program to minimize 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. 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.
0752 - Animal Specialty Services
812910 - Pet Care Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $20,500 loan amount, the SBA guaranteed $17,425.
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. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
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.
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