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May 17, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Philadelphia, Business Loans > Pnc Bank, National Association Philadelphia Business Loans > Full-Service Restaurants Loan | ||||
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Pennsylvania SBA Lenders
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Philadelphia, Pennsylvania Bank Gives SBA Loan to Full-Service Restaurants CompanyWant to talk with a Philadelphia, Pennsylvania bank about a small business loan? Here's one Maryland business loan, issued by a Philadelphia 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 firm in Havre De Grace, Maryland. They received an SBA loan for $50,000. Awesome! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/1/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business If you need money to start business in Havre De Grace MD, you ought to talk with a local Havre De Grace SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Havre De Grace businesses. 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: A Company That Helps Entrepreneurs Best Philadelphia, Pennsylvania Banks for Small Business
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