Company Gets a New Jersey Business Loan

New JerseySBA loans are available to New Jersey entrepreneurs through the SBA. In this case, a New Jersey bank provides the loan.

By giving the right information to Pnc Bank, National Association, this Scotch Plains, New Jersey business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
SCOTCH PLAINS, NJ 07076

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

5261 - Retail Nurseries, Lawn and Garden Supply Stores

Loan Approval Date

4/27/2000

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $747,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Financing Your Business

Find an SBA Lender in Somerset, New Jersey

SBA New Jersey Banks