Pnc Bank, National Association SBA Loan to Crop Farming Company

An SBA loan from Pnc Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Seaford, Delaware business owner got a $75,200 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seaford, Delaware was able to borrow $75,200 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $37,600 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: CROP FARMING
SEAFORD, DE 19973

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

111998 - Crop Farming

Loan Approval Date

3/9/2005

Loan Approval Gross Amount

$75,200

Loan Approval from the SBA

Of the total $75,200 loan amount, the SBA guaranteed $37,600.

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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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