SBA Loan from Pnc Bank, National Association Helps Catalog And Mail-Order Houses 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 Montgomery Village, Maryland business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Montgomery Village, Maryland, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Pnc Bank, National Association, based in Sterling, Virginia.

SBA Loan Borrower

COMPANY TYPE: CATALOG AND MAIL-ORDER HOUSES
MONTGOMERY VILLAGE, MD 20886

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
107 FREE CT
STERLING, VA 20164

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5961 - Catalog and Mail-Order Houses

NAICS Code

454110 - Electronic Shopping and Mail-Order Houses

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Montgomery Village MD, you ought to talk with a local Montgomery Village SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montgomery Village businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Sterling, Virginia

Browse All Business Loan Sources for Virginia