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May 9, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Frederick, Business Loans > Pnc Bank, National Association Frederick Business Loans > Professional Equipment And Supplies Loan | ||||
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Frederick Lenders
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Frederick, Maryland Lender Lends Money to Professional Equipment And Supplies CompanyWant to talk with a Frederick, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by a Frederick 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 company in Middletown, Maryland. The business was able to get an SBA loan for $120,000. Great job! SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5049 - Professional Equipment and Supplies NAICS Code 421490 - Professional Equipment and Supplies Wholesalers Loan Approval Date 7/24/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 10 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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. Related Links: Obtaining Funding From a Venture Capitalist Small Bank Loans in Frederick, Maryland
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