SBA Loan from Pnc Bank, National Association Helps Computer Related Services Company
Pnc Bank, National Association has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.
This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Pnc Bank, National Association, out of Pittsburgh, Pennsylvania. The loan was granted and they received $140,000 to help grow their Howell (p.O.), New Jersey business.
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
HOWELL (P.O.), NJ 08723
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
541519 - Computer Related Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $105,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a 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 3 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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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