The U.S. Small Business Administration (SBA) is a federal government agency that administers loan guaranty programs and other support services to encourage growth and development of small businesses throughout the United States. Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered over 20 million loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.1 SBA loans are offered to borrowing businesses through financial institutions such as PNC Bank.2
Loan Guarantee Program
A percentage of the loan is guaranteed by the SBA, enabling lenders to accept greater risk on small businesses that may not currently be financially strong enough to obtain a conventional small business bank loan.
Two significant features that an SBA programs offer are lower down payments, and longer term financing. This helps a small business that is just starting out, or about to expand, to keep more cash flow for operational expenses, and put less towards debt repayment.
SBA loans are offered for business purposes such as owner-occupied commercial real estate, business acquisitions and start-ups; franchise financing, working capital, improvements and renovations, inventory and equipment and debt refinancing.
Choose an SBA National Preferred Lender
PNC Bank, as a recognized SBA National Preferred Lender, has the experience needed to make SBA borrowing easier and more convenient for our small business customers. Our Business Development Officers and Business Bankers work closely with our customers to help choose the right borrowing solution.
Get your loan application started today.
Explore the SBA loan programs available at PNC, then contact a PNC Business Banker, call us at 800-762-5684 between the hours of 7:00 a.m. to 10:00 p.m., ET, Monday through Friday and 8:00 a.m. to 5:00 p.m., ET, Saturday and Sunday, or complete the contact form to have us contact you.
1. Source: www.sba.gov
2. All loans and lines of credit subject to credit approval. Origination and other fees may apply.
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