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December 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Somerset, Business Loans > Pnc Bank, National Association Somerset Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Raising Money in Elizabeth, New Jersey With SBA Loans
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Getting an SBA Loan for Coin-Operated Laundries and DrycleanersLooking for SBA loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $35,000 coin-operated laundries and drycleaners loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elizabeth, New Jersey was able to borrow $35,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $29,750 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS 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 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 4/16/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pnc Bank, National Association and they will explain how you can get an SBA loan for your company. 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 Banks for Somerset, New Jersey Loans
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