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April 27, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Hotels And Motels Loan | ||||
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Business Loan Center, LLC SBA Loan
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Business Loan from Business Loan Center, LLC Given to Hotels And Motels CompanyBusiness Loan Center, LLC and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Nashville, Tennessee was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Richmond, Virginia. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender provides SBA guaranteed bank loans 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 721110 - Hotels and Motels Loan Approval Date 9/14/2001 Loan Approval Gross Amount $1,220,000 Loan Approval from the SBA Of the total $1,220,000 loan amount, the SBA guaranteed $915,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 7A Banks for Richmond, Virginia Loans Getting an SBA Loan in Virginia
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