Warren, Pennsylvania Business Gets SBA-Guaranteed Funding from National City Bank
An 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
WARREN, PA 16365
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
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.
1794 - Excavation Work
235930 - Excavation Contractors
Loan Approval Date
Loan Approval Gross Amount
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.
Microlending as a Small Business Funding Source
SBA Approved Banks in Pittsburgh, Pennsylvania
Pennsylvania SBA Banks