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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Massage Envy Loan | ||||
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How to Get SBA Loans in Cranberry, Pennsylvania
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Cranberry, PA Entrepreneur Gets SBA Loan to Buy Massage Envy FranchiseBorrowing money to invest in a Massage Envy franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Cranberry, Pennsylvania needed money to invest in a Massage Envy franchise back in 2006. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower MASSAGE ENVY 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 621399 - Health Practitioners Loan Approval Date 3/22/2006 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Massage Envy franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: SBA Participating Banks in Pittsburgh, Pennsylvania
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