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May 3, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > General Automotive Repair Shops Loan | ||||
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Business Loan Center, LLC SBA Loan
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SBA Loan from Business Loan Center, LLC Helps General Automotive Repair Shops CompanyAn SBA loan from Business Loan Center, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Phoenix, Arizona business owner got a $1,165,000 loan. This small firm knew how to go about getting a business bank loan. Based in Phoenix, Arizona, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender BUSINESS LOAN CENTER, LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/10/2003 Loan Approval Gross Amount $1,165,000 Loan Approval from the SBA Of the total $1,165,000 loan amount, the SBA guaranteed $873,750. 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 30 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Role of Business Plan When Raising Money Best Richmond, Virginia Banks for Small Business Getting a Business Loan in Virginia
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