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May 16, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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Best Banks That Lend to Newton Small Businesses
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Pnc Bank, National Association Gives SBA Loan to Hobby, Toy, And Game Stores CompanyNew JerseySmall business loans are available to New Jersey small business owners through the SBA. In this case, a Pennsylvania bank provides the loan. This business, based in Newton, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Pnc Bank, National Association. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 1/30/2004 Loan Approval Gross Amount $242,000 Loan Approval from the SBA Of the total $242,000 loan amount, the SBA guaranteed $121,000. 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 2 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Pittsburgh, Pennsylvania
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