SBA Loan from First Commonwealth Bank Helps Offices And Clinics Of Chiropractors Company
First Commonwealth Bank has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.
Getting a small business loan in West Mifflin, Pennsylvania was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
WEST MIFFLIN, PA 15122
SBA Loan Lender
FIRST COMMONWEALTH BANK
4750 CLAIRTON BLVD
PITTSBURGH, PA 15236
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
8041 - Offices and Clinics of Chiropractors
621310 - Chiropractors
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $52,500 loan amount, the SBA guaranteed $44,625.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 First Commonwealth 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.
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