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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Sport Clips Loan | ||||
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Business Loans for Ashburn Small Business Owners
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Ashburn, VA Entrepreneur Gets SBA Loan to Buy Sports Clips FranchiseBorrowing money to buy a Sports Clips franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Ashburn, Virginia needed money to invest in a Sports Clips franchise back in 2004. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower SPORT CLIPS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 10/19/2004 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: SBA Approved Banks in Pittsburgh, Pennsylvania
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