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May 10, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Drinking Places Loan | ||||
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New York, New York SBA 7A Banks
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Entrepreneur Works With New York, New York Bank to Get an SBA LoanGet small business loans from a New York, New York bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Business Loan Center, LLC is a New York, New York small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES 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 722410 - Drinking Places Loan Approval Date 4/11/2007 Loan Approval Gross Amount $1,001,300 Loan Approval from the SBA Of the total $1,001,300 loan amount, the SBA guaranteed $750,975. 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 606 employees. The loan application indicated that the loan would help retain 60 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. 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: Determining Proper Capital Structure for a Business SBA 7A Banks for New York, New York Loans
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