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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Burger King Loan | ||||
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Business Loans for Rochelle Park (township Of) Small Businesses
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Rochelle Park (township Of), NJ Entrepreneur Gets SBA Loan to Buy Burger King FranchiseBorrowing money to invest in a Burger King franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Burger King franchise shouldn't be overly burdensome. In 2003, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in Rochelle Park (township Of), New Jersey. Because Burger King was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis. SBA Loan Borrower BURGER KING SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/26/2003 Loan Approval Gross Amount $451,000 Loan Approval from the SBA Of the total $451,000 loan amount, the SBA guaranteed $338,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Burger King franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 13 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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: A Company That Helps Entrepreneurs SBA Participating Banks in Pittsburgh, Pennsylvania
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