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April 28, 2024 |
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| Home > Small Business Lenders by State > Delaware Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Residential Care Loan | ||||
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SBA Lender Wilmington
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SBA Loan from Business Loan Center, LLC Helps Residential Care CompanyBusiness Loan Center, LLC is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Delaware entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wilmington, Delaware was able to borrow $1,330,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $997,500 of this Delaware small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL CARE SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8361 - Residential Care NAICS Code 623990 - Residential Care Facilities Loan Approval Date 12/17/2001 Loan Approval Gross Amount $1,330,000 Loan Approval from the SBA Of the total $1,330,000 loan amount, the SBA guaranteed $997,500. 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 20 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Wilmington DE, you ought to talk with a local Wilmington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wilmington businesses. 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: Dealing With Venture Capitalists SBA Participating Banks in Richmond, Virginia
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