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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Princess Anne, Business Loans > Pnc Bank, National Association Princess Anne Business Loans > Eating Places Loan | ||||
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Raising Money in Salisbury, Maryland With SBA Loans
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Salisbury, Maryland Entrepreneur Gets an SBA LoanMarylandSBA loans are available to Maryland entrepreneurs through the SBA. In this case, a Maryland bank provides the loan. This company, based in Salisbury, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Pnc Bank, National Association. We've got the inside scoop on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/3/2003 Loan Approval Gross Amount $238,500 Loan Approval from the SBA Of the total $238,500 loan amount, the SBA guaranteed $178,875. 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 23 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. We can help you find the best banks for small businesses in Salisbury or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA Approved Banks in Princess Anne, Maryland
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