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May 18, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Animal Specialty Services Loan | ||||
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Best Banks for Scott Towncenter Small Business Owners
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Pet Care Services Commercial LoansLooking 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 SBA Loan Lender NATIONAL CITY BANK 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. SIC Code 0752 - Animal Specialty Services NAICS Code 812910 - Pet Care Services Loan Approval Date 10/25/2002 Loan Approval Gross Amount $20,500 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. Related Links: Best Banks for Small Business in Pittsburgh, Pennsylvania
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