Entrepreneur Works With St. Louis, Missouri Bank to Get an SBA Loan
Thinking about meeting with a St. Louis, Missouri bank about a business loan? Here's one New York business loan, issued by a St. Louis bank, that was approved by the SBA.
Applying for an SBA loan with Ge Cap. Small Business Finan Corp worked out well for our friends at one local business in Brooklyn (borough Of New York), New York. They received an SBA loan for $734,500. Great job!
SBA Loan Borrower
COMPANY TYPE: YARN SPINNING MILLS
BROOKLYN (BOROUGH OF NEW YORK), NY 11237
SBA Loan Lender
GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141
This lender provides SBA 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
313111 - Yarn Spinning Mills
Loan Approval Date
7/17/2002
Loan Approval Gross Amount
$734,500
Loan Approval from the SBA
Of the total $734,500 loan amount, the SBA guaranteed $550,875.
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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ge Cap. Small Business Finan Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ge Cap. Small Business Finan Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Obtaining Funding - How to Borrow Money
SBA Banks in St. Louis, Missouri
SBA Lenders in Missouri