Business Loan from Pnc Bank, National Association Given to Master Touch Carpet Care

Pnc Bank, National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

Master Touch Carpet Care received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Pnc Bank, National Association, out of Pittsburgh, Pennsylvania. The loan was granted and they received $439,000 to help grow their Austin, Texas business.

SBA Loan Borrower

MASTER TOUCH CARPET CARE
7301 BURNET RD #102-503
AUSTIN, TX 78757

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

10/17/2006

Loan Approval Gross Amount

$439,000

Loan Approval from the SBA

Of the total $439,000 loan amount, the SBA guaranteed $329,250.

More Information on This SBA Loan

The borrower, Master Touch Carpet Care, 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If Master Touch Carpet Care can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

How Equity Dilution Works

SBA 7A Lenders in Pittsburgh, Pennsylvania

SBA Participating Banks in Pennsylvania

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