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December 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Annapolis, Business Loans > Pnc Bank, National Association Annapolis Business Loans > Meats And Meat Products Loan | ||||
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Get an SBA Loan in Annapolis, Maryland
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Pnc Bank, National Association Gives SBA Loan to Meats And Meat Products CompanySBA loans in Maryland are hard to find these days. We take a look at one Maryland SBA loan, provided by a Maryland bank, that was approved by the SBA. Getting a small business loan in Annapolis, Maryland was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: MEATS AND MEAT PRODUCTS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5147 - Meats and Meat Products NAICS Code 422470 - Meat and Meat Product Wholesalers Loan Approval Date 10/23/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Where to Get an SBA Loan in Annapolis, Maryland
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