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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 > Food Manufacturing Loan | ||||
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Business Loan Center, LLC Business Loans
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How to Get a Loan for Food ManufacturingWith these business loans for food manufacturing, the SBA guarantees the lender that the loan will be repaid. This food manufacturing loan for $455,000 was given to a Virginia entrepreneur in 2003. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Business Loan Center, LLC, out of Richmond, Virginia. The loan was granted and they received $455,000 to help grow their Norfolk, Virginia business. SBA Loan Borrower COMPANY TYPE: FOOD MANUFACTURING 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 311999 - Food Manufacturing Loan Approval Date 1/8/2003 Loan Approval Gross Amount $455,000 Loan Approval from the SBA Of the total $455,000 loan amount, the SBA guaranteed $341,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: The Friends and Family Network Best Banks for Small Business in Richmond, Virginia
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