Frederick, Maryland Bank Gives SBA Loan to Eating Places Company

Get SBA loans from a Frederick, Maryland bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Pnc Bank, National Association is a Frederick, Maryland small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Maryland company.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEW MARKET, MD 21774

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
110 THOMAS JOHNSON DR
FREDERICK, MD 21702

This lender issued this loan for a small business under the SBA's 7A loan, 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/7/2001

Loan Approval Gross Amount

$1,064,000

Loan Approval from the SBA

Of the total $1,064,000 loan amount, the SBA guaranteed $798,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 55 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Credit Evaluation

SBA 7A Banks for Frederick, Maryland Loans

Getting an SBA Loan in Maryland