Store Retailers Small Business Loans
With these small business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $30,000 was given to a New Jersey entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Plainfield, New Jersey was able to borrow $30,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $15,000 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: STORE RETAILERS
PLAINFIELD, NJ 07063
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
453998 - Store Retailers
Loan Approval Date
10/21/2004
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $15,000.
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 only one employee. The loan application indicated that the loan would help retain 10 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.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Pnc Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Getting a Small Business Loan
SBA Participating Banks in Pittsburgh, Pennsylvania
SBA Pennsylvania Lenders