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May 9, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Somerset, Business Loans > Pnc Bank, National Association Somerset Business Loans > Eating Places Loan | ||||
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New Jersey SBA Loans from Pnc Bank, National Association
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Somerville, New Jersey Business Gets SBA-Guaranteed Funding from Pnc Bank, National AssociationPnc Bank, National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Somerville, New Jersey, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Pnc Bank, National Association, based in Somerset, New Jersey. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/20/2000 Loan Approval Gross Amount $1,050,000 Loan Approval from the SBA Of the total $1,050,000 loan amount, the SBA guaranteed $745,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source 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: Best Banks in Somerset, New Jersey
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