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May 9, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Get an SBA Loan for Motor Vehicle Supplies and New Parts WholesalersLooking for loans for motor vehicle supplies and new parts wholesalers? The SBA may be the answer. This $318,000 motor vehicle supplies and new parts wholesalers loan was issued by a Missouri bank. This company knew how to go about getting a business bank loan. Based in Columbia, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Ge Cap. Small Business Finan Corp, based in St. Louis, Missouri. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This lender provides SBA guaranteed bank 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 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 6/6/2001 Loan Approval Gross Amount $318,000 Loan Approval from the SBA Of the total $318,000 loan amount, the SBA guaranteed $238,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money 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: Best St. Louis, Missouri Banks for Small Business Find an SBA Lender in Missouri
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