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April 28, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Raising Money in Chicago, Illinois With SBA Loans
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Mortgage and Nonmortgage Loan Brokers Small Business LoansWith these small business loans for mortgage and nonmortgage loan brokers, the SBA guarantees the lender that the loan will be repaid. This mortgage and nonmortgage loan brokers loan for $266,000 was given to an Illinois entrepreneur in 2002. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Business Loan Center, LLC, out of Richmond, Virginia. The loan was granted and they received $266,000 to help grow their Chicago, Illinois business. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS 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 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 6/4/2002 Loan Approval Gross Amount $266,000 Loan Approval from the SBA Of the total $266,000 loan amount, the SBA guaranteed $199,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Richmond, Virginia
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