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May 8, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Highway And Street Construction Loan | ||||
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St. Louis Bank Loan
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St. Louis, Missouri Bank Lends Money to Highway And Street Construction Company in Timberlake (rr Name Helena), North CarolinaThinking about meeting with a St. Louis, Missouri bank about an SBA loan? Here's one North Carolina business loan, issued by a St. Louis bank, that was approved by the SBA. Applying for an SBA loan with Ge Cap. Small Business Finan Corp worked out well for our friends at one local business in Timberlake (rr Name Helena), North Carolina. They received an SBA loan for $990,000. Great job! SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 234110 - Highway and Street Construction Loan Approval Date 9/13/2002 Loan Approval Gross Amount $990,000 Loan Approval from the SBA Of the total $990,000 loan amount, the SBA guaranteed $742,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 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. 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: SBA 7A Banks for St. Louis, Missouri Loans
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