Pnc Bank, National Association SBA Loan to No Industry Type Specified Company
Want a New Jersey business loan? Here's one New Jersey business loan that was approved by the SBA.
This local small business knew how to go about getting a business bank loan. Based in Camden, New Jersey, they applied for and were given an SBA-guaranteed loan in 2001. The lending bank was Pnc Bank, National Association, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
CAMDEN, NJ 08102
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 under the SBA's microloan program, in which the SBA loans money to a private organization who in turn make loans to businesses.
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $750,000 loan amount, the SBA guaranteed $750,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had no employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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 Pnc Bank, National Association 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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