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May 11, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Bowling Centers Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Bowling Centers Business LoansWith these business loans for bowling centers, the SBA guarantees the lender that the loan will be repaid. This bowling centers loan for $2,000,000 was given to a Kentucky entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Ashland, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Business Loan Center, LLC, based in New York, New York. SBA Loan Borrower COMPANY TYPE: BOWLING CENTERS 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 713950 - Bowling Centers Loan Approval Date 9/29/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 16 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 16 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Borrowing Money from Friends and Family SBA 7A Banks for New York, New York Loans
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