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May 9, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Best Banks for Southampton, New York Entrepreneurs
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Nondurable Goods Merchant Wholesalers Business LoansLooking for business loans for nondurable goods merchant wholesalers? Try the SBA. This $1,296,000 nondurable goods merchant wholesalers loan was issued by a Missouri bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Ge Cap. Small Business Finan Corp, out of St. Louis, Missouri. The loan was granted and they received $1,296,000 to help grow their Southampton, New York business. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 1/9/2003 Loan Approval Gross Amount $1,296,000 Loan Approval from the SBA Of the total $1,296,000 loan amount, the SBA guaranteed $972,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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: Advice on Getting a Small Business Loan Small Business Banks in St. Louis, Missouri
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