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May 10, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Shellfish Loan | ||||
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Business Loan Center, LLC Business Loans Biloxi
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SBA Loan from Business Loan Center, LLC Helps Shellfish CompanyAn SBA loan from Business Loan Center, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Biloxi, Mississippi business owner got a $545,000 loan. Getting a small business loan in Biloxi, Mississippi was an essential business goal for this small business 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 Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: SHELLFISH SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0913 - Shellfish NAICS Code 114112 - Shellfish Fishing Loan Approval Date 5/21/2001 Loan Approval Gross Amount $545,000 Loan Approval from the SBA Of the total $545,000 loan amount, the SBA guaranteed $408,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $545,000 loan. Remember, if it to be, it is up to me! 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: Accountant's Role in Securing Financing Best Banks for Small Business in Richmond, Virginia
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