Pnc Bank, National Association Provides SBA Loan to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to buy a Cornwell Quality Tool Company,Inc franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

If you live near Lexington, Kentucky and are interested in buying a Cornwell Quality Tool Company,Inc franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Pnc Bank, National Association. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PHILLIPS TOOL SALES
LEXINGTON, KY 40505

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
8800 TINICUM BLVD SBA-EDA LEN
PHILADELPHIA, PA 19153

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

7/26/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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