Business Loan from Pnc Bank, National Association Given to Commercial And Institutional Building Construction Company

Pnc Bank, National Association is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Delaware entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Pnc Bank, National Association, out of Pittsburgh, Pennsylvania. The loan was granted and they received $200,000 to help grow their New Castle, Delaware business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
NEW CASTLE, DE 19720

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

236220 - Commercial and Institutional Building Construction

Loan Approval Date

12/17/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pnc Bank, National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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