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May 11, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Somerset, Business Loans > Pnc Bank, National Association Somerset Business Loans > Radio, Television, And Electronics Stores Loan | ||||
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SBA Lender Somerset, New Jersey
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Somerset, New Jersey Bank Gives SBA Loan to Radio, Television, And Electronics Stores CompanyGet business loans from a Somerset, New Jersey bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Pnc Bank, National Association is a Somerset, New Jersey small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Jersey company. SBA Loan Borrower COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 443112 - Radio, Television, and Electronics Stores Loan Approval Date 12/29/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Raising VC Money for Social Networking Companies Where to Get an SBA Loan in Somerset, New Jersey
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