Business Loan from Pnc Bank, National Association Given to Eating Places Company

An SBA loan from Pnc Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Arlington, Virginia business owner got a $340,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arlington, Virginia was able to borrow $340,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $255,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ARLINGTON, VA 22203

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
107 FREE CT
STERLING, VA 20164

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Arlington VA, you ought to talk with a local Arlington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Arlington businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

SBA Approved Banks in Sterling, Virginia

Virginia SBA Bank Lenders