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May 19, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Drinking Places Loan | ||||
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Business Loan Center, LLC SBA 7A Loans
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Drinking Places Small Business LoansLooking for small business loans for drinking places? An SBA loan may be just what you've been looking for. This $265,000 drinking places loan was issued by a New York bank. This company knew how to go about getting a business bank loan. Based in Merritt Island, Florida, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Business Loan Center, LLC, based in New York, New York. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BUSINESS LOAN CENTER, LLC This SBA business loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5813 - Drinking Places NAICS Code 722410 - Drinking Places Loan Approval Date 8/27/2001 Loan Approval Gross Amount $265,000 Loan Approval from the SBA Of the total $265,000 loan amount, the SBA guaranteed $198,750. 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 13 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in New York, New York
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