Firm Gets a District of Columbia SBA Loan
District of ColumbiaSmall business loans are available to District of Columbia small business owners through the SBA. In this case, a Pennsylvania bank provides the loan.
Getting a small business loan in Washington, District of Columbia was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association. Here are the details on this District of Columbia small business loan.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS
WASHINGTON, DC 20009
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
This lender provides SBA debt financing 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
447190 - Gasoline Stations
Loan Approval Date
6/20/2003
Loan Approval Gross Amount
$910,000
Loan Approval from the SBA
Of the total $910,000 loan amount, the SBA guaranteed $682,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My 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.
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