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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Sound Recording Studios Loan | ||||
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Banks Doing SBA Loans in Virginia
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Richmond, Virginia Bank Lends Money to Sound Recording Studios Company in Fort Worth, TexasThinking about meeting with a Richmond, Virginia bank about a small business loan? Here's one Texas business loan, issued by a Richmond bank, that was approved by the SBA. Applying for an SBA loan with Business Loan Center, LLC worked out well for our friends at one local firm in Fort Worth, Texas. They got an SBA loan for $325,000. Nice! SBA Loan Borrower COMPANY TYPE: SOUND RECORDING STUDIOS SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 512240 - Sound Recording Studios Loan Approval Date 10/25/2001 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Small Bank Loans in Richmond, Virginia
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