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May 18, 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 > Nursery And Garden Centers Loan | ||||
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How to Get SBA Loans in Scotch Plains, New Jersey
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Nursery and Garden Centers Bank LoansLooking for bank loans for nursery and garden centers? An SBA loan may be just what you've been looking for. This $50,000 nursery and garden centers loan was issued by a New Jersey bank. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pnc Bank, National Association, out of Somerset, New Jersey. The loan was granted and they received $50,000 to help grow their Scotch Plains, New Jersey business. SBA Loan Borrower COMPANY TYPE: NURSERY AND GARDEN CENTERS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 444220 - Nursery and Garden Centers Loan Approval Date 10/30/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 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: Find an SBA Lender in Somerset, New Jersey
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