SBA Loan from Pnc Bank, National Association Helps Mortgage Bankers And Loan Correspondents 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, a Freehold, New Jersey business owner got a $50,000 loan.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Pnc Bank, National Association, out of Somerset, New Jersey. The loan was granted and they received $50,000 to help grow their Freehold, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE BANKERS AND LOAN CORRESPONDENTS
FREEHOLD, NJ 07727

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
675 FRANKLIN BLVD
SOMERSET, NJ 08873

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6162 - Mortgage Bankers and Loan Correspondents

Loan Approval Date

2/23/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 23 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Equity Financing

SBA 7A Banks for Somerset, New Jersey Loans

New Jersey SBA 7A Banks