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May 10, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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How Hard Is It to Get a Small Business Loan in Springfield, Illinois?
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Where to Get Capital for Beer, Wine, and Liquor StoresWith these small business loans for beer, wine, and liquor stores, the SBA guarantees the lender that the loan will be repaid. This beer, wine, and liquor stores loan for $1,110,000 was given to an Illinois entrepreneur in 2005. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Business Loan Center, LLC, out of New York, New York. The loan was granted and they received $1,110,000 to help grow their Springfield, Illinois business. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender BUSINESS LOAN CENTER, 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 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 11/16/2005 Loan Approval Gross Amount $1,110,000 Loan Approval from the SBA Of the total $1,110,000 loan amount, the SBA guaranteed $832,500. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,110,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best New York, New York Banks for Small Business
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