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May 17, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > Excavation Work Loan | ||||
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Pennsylvania Small Business Loans from National City Bank
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Warren, Pennsylvania Business Gets SBA-Guaranteed Funding from National City BankAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warren, Pennsylvania business owner got a $82,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warren, Pennsylvania was able to borrow $82,000 from National City Bank. The SBA made the loan possible by guaranteeing $69,700 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 10/31/2002 Loan Approval Gross Amount $82,000 Loan Approval from the SBA Of the total $82,000 loan amount, the SBA guaranteed $69,700. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Warren PA, you ought to talk with a local Warren SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Warren businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source SBA Approved Banks in Pittsburgh, Pennsylvania
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