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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Jerry's Subs And Pizza Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Maryland Entrepreneur Secures Financing to Buy Jerry's Sub Shop FranchiseNeed a loan to buy a Jerry's Sub Shop franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA. Jerry's Sub Shop franchise loans are available to Crofton, Maryland entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pnc Bank, National Association, based in Pittsburgh, Pennsylvania, issued an SBA franchise loan for a Jerry's Sub Shop franchise in 2005. We've got all the details on this Maryland small business loan. SBA Loan Borrower JERRY'S SUBS AND PIZZA SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/29/2005 Loan Approval Gross Amount $383,000 Loan Approval from the SBA Of the total $383,000 loan amount, the SBA guaranteed $287,250. 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 4 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 9 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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: SBA 7A Lenders in Pittsburgh, Pennsylvania
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