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May 11, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Supermarkets And Grocery Stores Loan | ||||
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New York Bank Loan
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New York, New York Bank Gives SBA Loan to Supermarkets And Grocery Stores CompanyWant to talk with a New York, New York bank about a business loan? Here's one New Jersey business loan, issued by a New York bank, that was approved by the SBA. Applying for an SBA loan with Business Loan Center, LLC worked out well for our friends at one local business in Paterson, New Jersey. They got an SBA loan for $1,500,000. Awesome! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 11/24/2004 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $990,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the loan would help generate 25 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Small Business Banks in New York, New York
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