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May 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Steel Works, Blast Furnaces And Rolling Mills Loan | ||||
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Pennsylvania Bank SBA Loans
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Business Loan from First Commonwealth Bank Given to Steel Works, Blast Furnaces And Rolling Mills CompanyFirst Commonwealth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Commonwealth Bank, out of Hollidaysburg, Pennsylvania. The loan was granted and they received $460,000 to help grow their Vandergrift, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: STEEL WORKS, BLAST FURNACES AND ROLLING MILLS SBA Loan Lender FIRST COMMONWEALTH BANK This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3312 - Steel Works, Blast Furnaces and Rolling Mills NAICS Code 331111 - Iron and Steel Mills Loan Approval Date 4/2/2003 Loan Approval Gross Amount $460,000 Loan Approval from the SBA Of the total $460,000 loan amount, the SBA guaranteed $345,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Commonwealth Bank and they will explain how you can get an SBA loan for your company. 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 in Hollidaysburg, Pennsylvania
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