Commercial Loans for Hardware Wholesalers

With these commercial loans for hardware wholesalers, the SBA guarantees the lender that the loan will be repaid. This hardware wholesalers loan for $85,000 was given to a New Jersey entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Point Pleasant, New Jersey was able to borrow $85,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $68,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE
POINT PLEASANT, NJ 08742

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
675 FRANKLIN BLVD
SOMERSET, NJ 08873

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5072 - Hardware

NAICS Code

421710 - Hardware Wholesalers

Loan Approval Date

3/9/2000

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $68,000.

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 8 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pnc Bank, National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

SBA 7A Banks for Somerset, New Jersey Loans

SBA Lenders in New Jersey