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May 10, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Petroleum And Petroleum Products Loan | ||||
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Business Loans for Troy Business Owners
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Where to Get Capital for Petroleum and Petroleum Products WholesalersLooking for SBA loans for petroleum and petroleum products wholesalers? Talk to a banker who works with the SBA. This $1,000,000 petroleum and petroleum products wholesalers loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Troy, New York was able to borrow $1,000,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $750,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS 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. SIC Code 5172 - Petroleum and Petroleum Products NAICS Code 422720 - Petroleum and Petroleum Products Wholesalers Loan Approval Date 3/29/2000 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 60 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 60 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. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Where to Get an SBA Loan in Richmond, Virginia
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