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May 11, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Shellfish Loan | ||||
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Business Loan Center, LLC Commercial Loans
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Commercial Loans for Shellfish FishingLooking for commercial loans for shellfish fishing? Try the SBA. This $209,000 shellfish fishing loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Erath, Louisiana was able to borrow $209,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $156,750 of this Louisiana small business loan. SBA Loan Borrower COMPANY TYPE: SHELLFISH SBA Loan Lender BUSINESS LOAN CENTER, LLC This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. 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 2/9/2000 Loan Approval Gross Amount $209,000 Loan Approval from the SBA Of the total $209,000 loan amount, the SBA guaranteed $156,750. 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 small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA Approved Banks in Richmond, Virginia Where to Get an SBA Loan Virginia
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