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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Mineral Wool Manufacturing Loan | ||||
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Getting an SBA Loan in Giddings, Texas
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Growing Company Gets a Texas SBA LoanTexasBank loans are available to Texas firms through the SBA. In this case, a New York bank provides the loan. By giving the right information to Business Loan Center, LLC, this Giddings, Texas business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MINERAL WOOL MANUFACTURING SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 327993 - Mineral Wool Manufacturing Loan Approval Date 12/13/2001 Loan Approval Gross Amount $1,750,000 Loan Approval from the SBA Of the total $1,750,000 loan amount, the SBA guaranteed $999,985. 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 110 employees. The loan application indicated that the loan would help retain 110 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in New York, New York
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