Annapolis, MD Entrepreneur Gets SBA Loan to Buy Jerry's Sub Shop Franchise

Borrowing money to purchase a Jerry's Sub Shop franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Annapolis, Maryland needed money to invest in a Jerry's Sub Shop franchise back in 2006. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Maryland small business loan.

SBA Loan Borrower

JERRY'S SUBS & PIZZA
ANNAPOLIS, MD 20874

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
TWO HOPKINS PLZ
BALTIMORE, MD 21201

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/21/2006

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jerry's Sub Shop franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Jerry's Subs and Pizza

The Friends and Family Network

SBA 7A Lenders in Baltimore, Maryland

Maryland SBA 7A Lenders