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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Who Can Get a Business Loan in Houston, Texas?
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Nondurable Goods Merchant Wholesalers Business LoansWith these business loans for nondurable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods merchant wholesalers loan for $1,422,300 was given to a Texas entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Pnc Bank, National Association, based in Pittsburgh, Pennsylvania. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 7/26/2006 Loan Approval Gross Amount $1,422,300 Loan Approval from the SBA Of the total $1,422,300 loan amount, the SBA guaranteed $1,066,725. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Obtaining Funding - Getting Venture Capital SBA 7A Lenders in Pittsburgh, Pennsylvania
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