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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Snack And Nonalcoholic Beverage Bars Loan | ||||
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Small Business Loan Source LLC Small Business Loan
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Small Business Loans for Snack and Nonalcoholic Beverage BarsLooking for small business loans for snack and nonalcoholic beverage bars? Try the SBA. This $216,000 snack and nonalcoholic beverage bars loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rochester, Michigan was able to borrow $216,000 from Small Business Loan Source LLC. The SBA made the loan possible by guaranteeing $162,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 3/23/2007 Loan Approval Gross Amount $216,000 Loan Approval from the SBA Of the total $216,000 loan amount, the SBA guaranteed $162,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. The SBA loan documents indicated that the loan would help generate 21 new jobs and retain 21 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Small Business Loan Source LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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