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November 14, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Vienna, Business Loans > Pnc Bank, National Association Vienna Business Loans > Local And Suburban Transit Loan | ||||
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SBA Lenders for Stafford Small Businesses
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Raising Money for Transit and Ground Passenger TransportationWith these bank loans for transit and ground passenger transportation, the SBA guarantees the lender that the loan will be repaid. This transit and ground passenger transportation loan for $72,000 was given to a Virginia entrepreneur in 2002. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pnc Bank, National Association, out of Vienna, Virginia. The loan was granted and they received $72,000 to help grow their Stafford, Virginia business. SBA Loan Borrower COMPANY TYPE: LOCAL AND SUBURBAN TRANSIT SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4111 - Local and Suburban Transit NAICS Code 485999 - Transit and Ground Passenger Transportation Loan Approval Date 9/24/2002 Loan Approval Gross Amount $72,000 Loan Approval from the SBA Of the total $72,000 loan amount, the SBA guaranteed $61,200. 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 only one employee. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Who Lends Money to Small Businesses in Vienna, Virginia
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