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May 11, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Finfish Loan | ||||
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SBA Lender Wickford
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SBA Loan from Business Loan Center, LLC Helps Finfish CompanyBusiness Loan Center, LLC and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Wickford, Rhode Island, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: FINFISH SBA Loan Lender BUSINESS LOAN CENTER, LLC This SBA 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. SIC Code 0912 - Finfish NAICS Code 114111 - Finfish Fishing Loan Approval Date 9/30/2002 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Business Loan Center, LLC and they will explain how you can get an SBA loan for your company. 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: Dealing With Venture Capitalists SBA Banks in Richmond, Virginia
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