Leonardtown, Maryland Bank Gives SBA Loan to Motor Vehicle Supplies And New Parts Company

Thinking about meeting with a Leonardtown, Maryland bank about a small business loan? Here's one Maryland business loan, issued by a Leonardtown bank, that was approved by the SBA.

Applying for an SBA loan with Pnc Bank, National Association worked out well for our friends at one local company in Port Republic, Maryland. They received an SBA loan for $50,000. Nice!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
PORT REPUBLIC, MD 20676

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
41615 PARK AVE
LEONARDTOWN, MD 20650

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

Loan Approval Date

2/24/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Leonardtown, Maryland

Maryland SBA 7A Banks