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May 4, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Philadelphia, Business Loans > Pnc Bank, National Association Philadelphia Business Loans > Confectionery Manufacturing From Purchased Chocolate Loan | ||||
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SBA Lender Philadelphia, Pennsylvania
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Entrepreneur Works With Philadelphia, Pennsylvania Bank to Get an SBA LoanGet business loans from a Philadelphia, Pennsylvania bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Pnc Bank, National Association is a Philadelphia, Pennsylvania small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Florida company. SBA Loan Borrower COMPANY TYPE: CONFECTIONERY MANUFACTURING FROM PURCHASED CHOCOLATE SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION 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. NAICS Code 311330 - Confectionery Manufacturing from Purchased Chocolate Loan Approval Date 5/15/2007 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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: Small Business Banks in Philadelphia, Pennsylvania
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