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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Best Inn Civic Center Loan | ||||
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Good Sources for Catawba SBA Loans
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Catawba, VA Entrepreneur Gets SBA Loan to Buy Best Inn Civic Center FranchiseNeed money to buy a Best Inn Civic Center franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. Best Inn Civic Center franchise loans are available to Catawba, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Business Loan Center, LLC, based in Richmond, Virginia, issued an SBA franchise loan for a Best Inn Civic Center franchise in 2002. We've got all the details on this Virginia small business loan. SBA Loan Borrower BEST INN CIVIC CENTER SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/18/2002 Loan Approval Gross Amount $1,570,000 Loan Approval from the SBA Of the total $1,570,000 loan amount, the SBA guaranteed $999,995. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Best Inn Civic Center franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 12 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks in Richmond, Virginia
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